State and federal regulators Friday closed three failing banks and one savings and loan, bringing the total number of failed U.S. banking institutions during 2009 to 29.

The Federal Deposit Insurance Corp. estimated the combined cost to its insurance fund from the four bank and thrift failures was $698 million.

Please see's Bank Failure Map for an interactive summary of all previous bank and thrift failures during 2008 and 2009.

The Georgia Department of Banking and Finance took over American Southern Bank of Kennesaw, Ga. and appointed the FDIC receiver. The FDIC arranged for Bank of North Georgia to assume all of the failed bank's retail deposits. Bank of North Georgia is a subsidiary of Synovus Financial Corp. ( SNV).

The Office of Thrift Supervision closed First Bank of Idaho of Ketchum, Idaho. The FDIC was appointed receiver and sold the failed thrift's retail deposits to U.S. Bank (held by U.S. Bancorp ( USB)).

Next, the California Department of Financial Institutions took over First Bank of Beverly Hills of Calabasas, Calif. and placed it in FDIC receivership. With no buyer lined up for the failed bank, the FDIC made arrangements for a payout of all insured deposits.

Lastly, the Michigan Office of Financial and Insurance Regulation shuttered Michigan Heritage Bank of Farmington Hills, Mich. The FDIC was appointed receiver, and sold all of Michigan Heritage Bank's retail deposits to Level One Bank, also headquartered in Farmington Hills. Michigan Heritage Bank was a subsidiary of Michigan Heritage Bancorp ( MHBC).

Georgia Leads in Bank Failures

American Southern Bank was the fifth Georgia bank to fail during 2009. Of the 54 bank and thrift failures during 2008 and 2009, Georgia had 10, the largest number for a single state. California is No. 2, with nine failures, followed by Florida, Illinois and Nevada, each of which has had four bank or thrift failures.

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