FDIC Closes Little Falls Bank
WASHINGTON (AP) – Regulators have closed banks in Minnesota and Georgia, increasing to 11 the number of U.S. bank failures this year.
That represents a slower pace than last year, when 92 banks were closed.
The Federal Deposit Insurance Corporation on Friday closed Home Savings of America, based in Little Falls, Minnesota with $434.1 million in assets and $432.2 million in deposits.
The FDIC will mail out checks to depositors in the amount of their insured funds.
Regulators also closed Central Bank of Georgia, based in Ellaville, with $278.9 million in assets and $266.6 million in deposits.
(Copyright 2012 by The Associated Press. All Rights Reserved.)