WASHINGTON ( TheStreet) -- Regulators shut down two banks Friday, bringing this year's tally of U.S. bank and thrift failures to 22.

TheStreet.com Ratings had previously assigned both institutions E-minus (Very Weak) financial strength ratings, and both were included in TheStreet.com's list of undercapitalized banks.

Carson River Community Bank

The Nevada Department of Business and Industry closed Carson River Community Bank of Carson City, Nev. and appointed the Federal Deposit Insurance Corp. receiver. The FDIC arranged for Heritage Bank of Nevada, of Reno, Nev. to assume the failed bank's $50 million in total deposits and $38 million of its $51 million in assets.

The FDIC retained the remaining assets for later disposition and agreed to share in losses on $28.5 million of the acquired assets.

Carson River Community's office was scheduled to reopen Monday as a branch of Heritage Bank of Nevada. The FDIC estimated the cost to its insurance fund would be $7.9 million.

Rainier Pacific Bank

Meanwhile, Washington regulators shuttered Rainier Pacific Bank of Tacoma, Wash., which was held by Rainier Pacific Financial ( RPFG). The FDIC was appointed receiver and sold the failed bank's $446 million in total deposits for a 1.04% premium to Umpqua Bank of Roseburg, Ore., the main subsidiary of Umpqua Holdings ( UMPQ).

This was Umpqua's second acquisition of a failed bank this year. The company purchased the failed Evergreen Bank of Seattle in January.

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In addition to the deposits, Umpqua agreed to assume roughly $670 million of Rainier Pacific's $718 million in total assets, with the FDIC retaining the rest for later disposition. The agency agreed to share in losses on $578 million of the acquired assets and estimated the cost to its insurance fund would be $95.2 million.

Rainier Pacific's 14 branches were set to reopen during normal business hours as Umpqua Bank branches.

Ongoing Bank Failure Coverage

All previous bank and thrift failures since the beginning of 2008 are detailed in TheStreet.com's interactive bank failure map:

The bank failure map is color-coded, with states having 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 2008-2010 totals for that state. Then click the state to open a detailed map that pinpoints the locations of the failures and provides additional information for each failure.

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.

In addition, the Financial Strength Ratings for 4,000 life, health, annuity, and property/casualty insurers are available on the Insurers & HMOs Screener.

TheStreet.com Ratings also provides award-winning stock ratings, which are available on the Stock Ratings 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.

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