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Banks Closed in Neb, Utah; 87 Failures in 2011

By: AP Email
By: AP Email

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.

(Copyright 2011 by The Associated Press. All Rights Reserved.)
AP-NY-11-04-11 1943EDT


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