Regulators Close Banks In Four States

March 8th, 2010

U.S. bank regulators closed four banks in as many states on Friday, bringing the number of failures so far this year to 26 as deteriorating loans continued taking a toll on financial institutions. The largest of the four was Sun American Bank of Boca Raton, Florida, which had approximately $535.7 million in total assets and $443.5 million in total deposits, the Federal Deposit Insurance Corp (FDIC) said.