WASHINGTON - Regulators have closed small banks in Georgia, Florida and Pennsylvania, the first failures of 2012 following 92 closures last year.
The Federal Deposit Insurance Corp. on Friday seized First State Bank, based in Stockbridge, Ga., with $536.9 million in assets and $527.5 million in deposits; Central Florida State Bank of Belleview, Fla., with $79.1 million in assets and $77.7 million in deposits; and American Eagle Savings Bank of Boothwyn, Pa., with $19.6 million in assets and $17.7 million in deposits.
The failure of First State Bank is expected to cost the deposit insurance fund $216.2 million; that of Central Florida State Bank is expected to cost $24.4 million, and American Eagle Savings Bank is to cost the fund $3.2 million.
Associated Press