U. S. regulators on Friday closed three banks, two in Florida and one in Oregon, bringing the tally of the federally insured banks to fail this year to 72.
Sarasota-based Community National Bank had $97 million in assets and $93 million in deposits. While another Sarasota-based lender, First State Bank had total assets of $463 million deposits of $387 million.
Prineville-based Community First Bank has possessed $209 million in assets and $182 million in deposits.
The Federal Deposit Insurance Corp, which was appointed receiver of the banks, estimated that its deposit fund would have to bear a cost of $185 million owing to the closure of the three banks.
FDIC informed that Stearns Bank of St. Cloud, Minn., agreed to assume all the deposits of Florida banks.
Idaho-based Home Federal Bank has agreed to assume almost all of Community First's $182 million in deposits. It has also agreed to buy 94% of Community First's $209 million in assets.












