WASHINGTON (AP) — Regulators have shut banks in Florida, Georgia and Washington, lifting to 107 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
The Federal Deposit Insurance Corp. took over the banks: Bayside Savings Bank in Port Saint Joe, Fla., with $66.1 million in assets; Coastal Community Bank, based in Panama City, Fla., with $372.9 million in assets; NorthWest Bank and Trust, based in Acworth, Ga., with assets of $167.7 million; and Cowlitz Bank, based in Longview, Wash., with assets of $529.3 million.
