Increasing the number of “failed institutions” in State, the regulators have finally closed five banks in Florida, California and Nevada.

The recent closure has elevated the national number of such banks to 78. Approximately 13 banks have been shut in Florida, 6 in California and 2 in Nevada.

According to FDIC, the Florida Office of Financial Regulation ceased three units of Bank of Florida Corp. with Federal Deposit Insurance Corp. as their receiver. This was announced on Friday.

The FDIC managed to assemble and arrange for the $1.32 billion in deposits of the bank that is to be bought by EverBank of Jacksonville, Fla. This acquisition has been decided under a loss-sharing agreement. This agreement will cost the insurance fund about $203 million.

Following the Memorial Day weekend with the rearrangement of EverBank, three banks in Fort Lauderdale, Naples and Tampa will revive on Tuesday, with 13 branches.

It was announced on May 18 by Bank of Florida, that it has been trying to correct its first-quarter results in order to report a loss that is available to common shareholders of $48.2 million. This step shows "additional impairments on several loans in our non-performing portfolio”, stated the bank.

In 2009, the bank witnessed a loss of $108.7 million, and it had been to trying to collect $71.8 million in a common stock offering.