Regulators Close FL Banks

WASHINGTON (AP) -- Regulators have closed banks in Tennessee,
Florida and Minnesota, lifting to seven the number of U.S. bank
failures this year following 92 closures in 2011.

The Federal Deposit Insurance Corp. on Friday seized Tennessee
Commerce Bank, based in Franklin, Tenn., with $1.2 billion in
assets and $1.1 billion in deposits.

It also closed BankEast, based in Knoxville, Tenn., with $272.6
million in assets and $268.8 million in deposits, plus First
Guaranty Bank and Trust Co. of Jacksonville, in Jacksonville, Fla.,
with $377.9 million in assets and $349.5 million in deposits.

And it seized Patriot Bank Minnesota, based in Forest Lake,
Minn., with $111.3 million in assets and $108.3 million in
deposits.
(Copyright 2012 by The Associated Press. All Rights Reserved.)


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