WASHINGTON (

TheStreet

) -- Regulators shut down two Georgia banks Friday, along with one each in Florida and Arizona. The failures lift this year's tally of failed U.S. banking institutions to 41.

The failed banks had combined total assets of $1.24 billion. The Federal Deposit Insurance Corp. acted as receiver and, after finding buyers for the four banks, estimated the total cost to the deposit insurance fund would be $320.3 million.

TheStreet.com Ratings

had previously assigned E-minus (Very Weak) financial strength ratings to all four banks, and all were included in

TheStreet's

listing of

undercapitalized banks

.

McIntosh Commercial Bank

The Georgia Department of Banking and Finance shut down

McIntosh Commercial Bank

of Carrollton, Ga. The failed bank had $363 million in total assets and was acquired by

CharterBank

of West Point, Ga., with the FDIC agreeing to share in losses on $263 million of the acquired assets.

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The acquiring bank is the main subsidiary of

Charter Financial

(CHFN) - Get Report

.

The FDIC estimated the cost to its deposit insurance fund would be $123.3 million. McIntosh's four branches were scheduled to reopen during regular business hours Saturday as branches of CharterBank.

Key West Bank

The Office of Thrift Supervision closed

Key West Bank

of Key West, Fla., which had $88 million in total assets. The FDIC arranged for

Centennial Bank

of Conway, Ark. to assume the failed institution for a 0.50% premium on Key West Bank's $68 million in deposits.

Centennial Bank is the main subsidiary of

Home Bancshares

(HOMB) - Get Report

.

The FDIC agreed to share in losses on roughly $76 million of the acquired assets and estimated the cost to its deposit insurance fund would be $23.1 million. Key West Bank's office was scheduled to reopen during normal business hours Saturday as a Centennial Bank branch.

Unity National Bank

The Office of the Comptroller of the Currency shuttered

Unity National Bank

of Cartersville, Ga., which had $292 million in total assets. The FDIC arranged for

Bank of the Ozarks

(OZRK)

to assume the failed institution's assets and deposits.

The FDIC agreed to share in losses on $206 million of the acquired assets and estimated the cost to the deposit insurance fund would be $67.2 million.

Unity National's five branches were set to reopen Saturday as Bank of the Ozarks branches.

Desert Hills Bank

State regulators in Arizona closed

Desert Hills Bank

of Phoenix, which had $497 million in total assets. The FDIC arranged for

New York Community Bank

to acquire the failed institution's deposits and assets.

New York Community Bank is held by

New York Community Bancorp

(NYB)

.

The FDIC agreed to share in losses on $326 million of the acquired assets and estimated the cost to its deposit insurance fund would be $106.7 million.

The failed bank's six branches were scheduled to reopen Monday as branches of New York Community Bank, operating under the name "AmTrust Bank, a Division of New York Community Bank."

New York Community acquired 12 branches in Arizona in December when it acquired the deposits and most of the assets of

AmTrust Bank

.

Continuing Bank Failure Coverage

All previous bank and thrift failures since the beginning of 2008 are detailed in

TheStreet's

interactive bank failure map:

The bank failure map is color-coded, with states with the greatest number of failures highlighted in red, and states with no failures in gray. By hovering your mouse over a state you can see the combined 2008-present totals for that state. You can then click on the state to open a detailed map that pinpoints the locations of the failures and provides additional information.

Free Financial Strength Ratings

TheStreet.com Ratings

issues independent and very conservative financial strength ratings on each of the nation's 8,500 banks and savings and loans. They are available at no charge on the

Banks & Thrifts Screener

.

--

Written by Philip van Doorn in Jupiter Fla.

Philip W. van Doorn joined TheStreet.com Ratings., Inc., in February 2007. He is the senior analyst responsible for assigning financial strength ratings to banks and savings and loan institutions. He also comments on industry and regulatory trends. Mr. van Doorn has fifteen years experience, having served as a loan operations officer at Riverside National Bank in Fort Pierce, Florida, and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a Bachelor of Science in business administration from Long Island University.