FDIC closes 7 more banks brings total to 140 for this year. The bank closings include:
First Federal Bank of California
Bank's failure is expected to cost the FDIC $146 million
Imperial Capital Bank
Estimated to cost the FDIC $619 million.
Independent Bankers' Bank
The closure is expected to cost the FDIC an estimated $68 million
New South Federal Savings Bank
The Alabama bank's failure is expected to cost the FDIC $212 million
Citizens State Bank in New Baltimore, Michigan
The failure will cost the FDIC an estimated $76 million
RockBridge Commercial Bank in Atlanta, Georgia
expected to cost the FDIC $124 million.
In Panama City,FL Peoples First Community Bank was shut down
The closure will cost the FDIC an estimated $556.7 million
The FDIC is raising its 2010 budget by a 55 percent and adding staff in order to deal with another round of excessive bank failures next year.
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