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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Five more US bank closures brings total to 77 AFP - Sunday, August 16 WASHINGTON (AFP) - - US regulators have shut down five more regional banks, bringing the total number of US bank failures to 77 this year, the US government announced. ADVERTISEMENT The Federal Deposit Insurance Corporation (FDIC) said Colonial Bank of Montgomery became the largest US bank to fail this year after it was declared bankrupt and had the bulk of its assets taken over by rival BB&T. All of Alabama-based Colonial's 346 branches will reopen Saturday "and operate as branches of BB&T," the FDIC said. The list of closed banks also included the Community Bank of Nevada in Las Vegas that was closed by order of the Nevada Financial Institutions Division, which appointed the FDIC as receiver. As of the end of June, the bank had total assets of 1.52 billion dollars and total deposits of about 1.38 billion. Also shut down was the Community Bank of Arizona in Phoenix, which will be taken over by MidFirst Bank from Oklahoma City. The bank had total assets of 158.5 million dollars, most of which will be purchased by MidFirst Bank, the FDIC said. The Oklahoman bank will also assume all of the deposits of Union Bank of Gilbert, another Arizona institution shut down by regulators. The closed financial institutions also include the Dwelling House Savings and Loan Association of Pittsburgh, Pennsylvania. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo Clouds are reflected in the windows of a Colonial Bank building in Montgomery, Alabama. The Federal Deposit Insurance Corporation (FDIC) said Colonial Bank of Montgomery became the largest US bank to fail this year. Most Popular – Top Stories Viewed Millions of salmon fail to turn up in Canada Hundreds mourn Kennedy sister at funeral Rare flowering of Chinese tree in Belgium US study uncovers powerful anti-cancer compound US industrial output rebounds, consumer prices flat View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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