Two California Banks and one Georgia institution were among the four
new bank failures
All 81 failures since the beginning of 2008 are detailed on
interactive bank failure map:
The Georgia Department of Banking and Finance shut down
First Piedmont Bank
of Winder and appointed the Federal Deposit Insurance Corp. receiver. The FDIC sold all the failed institution's deposits and branches to
First American Bank and Trust Co.
of Athens, Ga.
South Dakota regulators closed
of Sioux Falls.
Alerus Financial NA
of Grand Forks, N.D. purchased all of the failed bank's deposits and both of its offices. Alerus Financial then made a separate agreement for BankFirst's Sioux Falls office to be operated as a branch of
First Dakota National Bank
, of Yankton. BankFirst's other office in Minneapolis was to reopen as a branch of Alerus Financial NA.
The Office of the Comptroller of the Currency took over
Vineyard Bank NA
of Rancho Cucamonga, Calif., appointing the FDIC receiver. The FDIC then sold all of the failed bank's retail deposits and branches to California Bank & Trust of San Diego (a subsidiary of
(ZION - Get Report)
California regulators shuttered
Temecula Valley Bank
of Temecula, Calif., which was held by
Temecula Valley Bancorp
. The FDIC then sold the failed bank's retail deposits to
First-Citizens Bank and Trust
of Raleigh, N.C. First-Citizens is a subsidiary of
First Citizens Bancshares
(FCNCA - Get Report)
All but one of the failed banks were included in
recent list of 89
undercapitalized banks and thrifts
. Eighteen of the undercapitalized institutions listed on May 28 have failed so far.
In addition to Zions Bancorp, large bank holding companies that have acquired failed institutions during 2008 and 2009 include
(JPM - Get Report)
, which acquired
, the largest-ever bank or thrift to fail in the U.S.;
(STI - Get Report)
Fifth Third Bancorp
(USB - Get Report)
(BBT - Get Report)
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