Government regulators have stepped in to shut down two banks this afternoon in places that seem to be ground zero for bank closures the past 18 months: Georgia and Florida. Details below. I’ll update with new posts if there are any more closures today:
No. 85 in 2010: First National Bank of Savannah, Ga., was shut down, then taken over by The Savannah Bank. First National had four branches. Estimated cost to the FDIC: $68.9 million.
No. 84: Peninsula Bank of Englewood, Fla., was shut down, then taken over by Premier American Bank of Miami. Peninsula had 13 branches. Estimated cost to the FDIC: $194.8 million.