This week’s bank closure totals: 4

Written by Dave Gallagher | The Bellingham Herald | June 26, 2009

By late Friday afternoon the FDIC stepped in to close 4 banks, bringing the total up to 44 on the year. None of these banks are local, but here are the details:

1. Community Bank of West Georgia in Villa Rica, Ga. was shut down and no other bank will be taking it over. Cost to the FDIC: $85 million.

2. Neighborhood Community Bank in Neuman, Ga. was closed and then taken over by Charter Bank in West Point, Ga. Cost to the FDIC: $66.7 million.

3. Horizon Bank of Pine City, Minn. (no relation to Bellingham’s Horizon Bank) was closed, then taken over by Stearns Bank in St. Cloud, Minn. Cost to the FDIC: $33.5 million.

4. MetroPacific Bank in Irvine, Calif., was closed and then taken over by Sunwest Bank in Tustin, Calif. Cost to the FDIC: $29 million.