Government regulators have started its Friday afternoon closures with a small bank in Florida. Details are below. I’ll add new posts if there are more bank failures later today.
Commerce Bank of Southwest Fla. in Fort Myers was closed, then taken over by Central Bank of Stillwater, Minn. There was just one branch. Estimated cost to the FDIC: $23.6 million.
It’s the 124th U.S. bank closure this year.