WASHINGTON (AP) — Regulators have shut down small banks in Florida and Washington state, bringing to 127 the number of U.S. bank failures this year on a wave of loan defaults and economic distress.
The Federal Deposit Insurance Corp. on Friday took over Haven Trust Bank Florida of Ponte Vedra Beach, Fla., with $148.6 million in assets and $133.6 million in deposits, and North County Bank, based in Arlington, Wash., with $288.8 million in assets and $276.1 million in deposits.
First Southern Bank, based in Boca Raton, Fla., agreed to assume the assets and deposits of Haven Trust Bank Florida. Whidbey Island Bank, based in Coupeville, Wash., is acquiring the assets and deposits of North County Bank.
