Banks

New Bank Failures: Week of Aug. 10

Stock quotes in this article:HOME, JPM, STI 

New bank failures last week included two in Florida and one in Oregon, bringing the total number of banks and savings and loans shut down by regulators this year to 72.

All 97 bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive bank failure map:

Georgia continues to lead all states with 21 bank or thrift failures during 2008 and 2009, followed by Illinois with 14 failures, California with 13, Florida with eight and NevadaNevada with four failures.

Two of the failed banks were included in TheStreet.com's list of over 100 undercapitalized banks and thrifts, based on preliminary second-quarter data. One didn't appear on the list, because it had not filed a second-quarter call report.

Of the 89 institutions on a previous list of undercapitalized banks published TheStreet.com's in late May, 31 have failed so far.

The Florida Office of Financial Regulation shut down First State Bank of Sarasota, Fla. and appointed the Federal Deposit Insurance Corporation receiver. The FDIC sold all of the failed bank's retail deposits and branches to Stearns Bank NA of St. Cloud, Minn.

The Office of the Comptroller of the Currency took over Community National Bank of Sarasota County of Venice, Fla., which also had its deposits and branches sold by the FDIC to Stearns Bank.

State regulators closed Community First Bank of Prineville, Ore. The FDIC was appointed receiver and sold Community First Bank's retail deposits and branches to Home Federal Bank of Nampa, Idaho, a subsidiary of Home Federal Bancorp (HOME).

JPMorgan Chase (JPM), which acquired Washington Mutual, the largest bank or thrift ever to fail in the U.S., was among the large bank holding companies that have acquired failed institutions during 2008 and 2009. Others include SunTrust Banks (STI), Regions Financial (RF), Zions Bancorp (ZION), Fifth Third Bancorp (FITB), US Bancorp (USB) and BB&T (BBT).

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