Regulators close 4 banks in 3 states
WASHINGTON (AP) -- Federal regulators have closed two banks in Maryland and one in Minnesota and South Carolina, bringing to 21 the number of U.S. banks that have failed so far this year.
The Federal Deposit Insurance Corp. said Friday that it shuttered Bank of Eastern Shore, in Cambridge, Md., as well as HarVest Bank of Maryland, in Gaithersburg.
Regulators also closed Inter Savings Bank in Maple Grove, Minn., and Plantation Federal Bank in Pawleys Island, S.C.
Combined, the closed banks had $1.3 billion in assets and $1.21 billion in deposits as of Dec. 31.
Regulators lined up lenders to take over the assets and deposits of all of the banks except Bank of the Eastern Shore.
The FDIC estimates that the banks' failure will cost the insurance fund $252.5 million, combined.
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