From the Wall St Journal: Regulators on Friday closed banks in Georgia, North Carolina, New Jersey and Illinois, pushing this year's national tally of collapsed banks to 80.
The Federal Deposit Insurance Corp. said the Georgia Department of Banking and Finance closed Piedmont Community Bank in Gray, Ga., the state's 20th failure of the year. State Bank & Trust Co. of Macon, Ga., will assume all of Piedmont's deposits, the agency said.
In addition, the FDIC reported the collapse of Blue Ridge Savings Bank Inc. of Asheville, N.C., which the North Carolina Office of Commissioner of Banks closed on Friday. The FDIC entered into an agreement with Bank of North Carolina to assume all of the deposits of Blue Ridge Savings Bank and essentially all of its assets.
Regulators also shuttered First State Bank of Cranford, N.J., marking that state's first bank failure this year. Northfield Bancorp Inc. of Staten Island, N.Y., agreed to assume all of the deposits of First State Bank and essentially all of its assets. Northfield Bank is the operating subsidiary of Northfield Bancorp.
In Illinois, state regulators closed Country Bank of Aledo, Ill. Blackhawk Bank & Trust of Milan, Ill., agreed to assume all of Country Bank's deposits and buy about $113.3 million of its assets. The FDIC will keep the remaining assets for later disposition. Country Bank was Illinois' eighth bank failure in 2011….
Find out more at http://online.wsj.com/article/SB10001424052970204002304576631520642800118.html?mod=WSJ_business_whatsNews
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