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Regulators close small banks in Nebraska, Utah for total of 87 bank failures in 2011
WASHINGTON (AP) ' Regulators have closed small banks in Nebraska and Utah, bringing to 87 the number of bank failures in the U.S. this year.
The Federal Deposit Insurance Corp. on Friday seized Mid City Bank, based in Omaha, Neb., with $106.1 million in assets and $105.5 million in deposits, and SunFirst Bank, based in Saint George, Utah, with $198.1 million in assets and $169.1 million in deposits.
The failure of Mid City Bank is expected to cost the deposit insurance fund $12.7 million; that of SunFirst Bank is expected to cost $49.7 million.