Three Banks Fail Friday

WASHINGTON (TheStreet) -- Regulators shut down two banks and one thrift Friday, bringing the total number of failed U.S. banking institutions during 2009 to 84.

The Office of Thrift Supervision shuttered Bradford Bank of Baltimore. The Federal Deposit Insurance Corp. was appointed receiver and sold all of the institution's deposits and branches to Manufacturers & Traders Trust of Buffalo, N.Y., the main subsidiary of M&T Bank Corp.(MTB Quote). Allied Irish Banks(AIB Quote) holds a significant stake in M&T Bank Corp.

Minnesota regulators closed Mainstreet Bank of Forest Lake, Minn. and appointed the FDIC receiver. The FDIC was appointed receiver and sold the failed bank's deposits and branches to Central Bank of Stillwater, Minn.

The California Department of Financial Institutions took over Affinity Bank of Ventura, Calif. The FDIC was appointed receiver and sold all of Affinity's deposits and branches to Pacific Western Bank of San Diego. Pacific Western is held by PacWest Bancorp(PACW Quote).

All three failed institutions were included in TheStreet.com's list of 116 undercapitalized banks and thrifts, based on second-quarter data.

Of the 89 institutions on a previous list published TheStreet.com in late May, 38 have failed. That list also included the three institutions that failed Friday.

All previous bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive Bank Failure Map.

Georgia continues to lead all states with 23 bank or thrift failures during 2008 and 2009, followed by Illinois and California with 14 each, Florida with eight and Nevada with five.

Large bank holding companies that have acquired failed institutions during 2008 and 2009 include J.P. Morgan Chase (JPM Quote), which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S.; SunTrust Banks (STI Quote); Regions Financial (RF Quote); Fifth Third Bancorp (FITB Quote); U.S. Bancorp (USB Quote); Zions Bancorp (ZION Quote); PNC Financial (PNC Quote); and BB&T Corp (BBT Quote).