2009 Bank Fail Total Largest Since 1992





Regulators seized three banks Friday in Florida and Oregon, increasing the number of 2009 U.S. bank failures to 72.

Stearns Bank of St. Cloud, Minn. agreed to take deposits and most assets from the two Florida institutions, Community National Bank of Sarasota County in Venice, Fla. and First State Bank in Sarasota, Fla. Both Gulf Coast banks collapsed due to risky loans made during the housing boom and were severely undercapitalized near the end...

...The number of U.S. bank failures this year is the most since 1992, when 179 institutions went under.


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