Regulators take over four failed US banks

Regulators say they closed down four
banks in three states Friday, bringing the total number of failed banks taken
over in the United States this year to 90.

The small banks, which totaled $560.7
million in deposits and $664.5 million in assets, included two in Maryland and
one each in New York and Oklahoma.

In Maryland, the two branches of Bay
National Bank were sold to Bay Bank. A buyer was not found for Ideal Federal
Savings Bank, which had $5.8 million in deposits. The Wall Street Journal said
the Federal Deposit Insurance Corporation approved a $2.1 million insurance
payout.

USA Bank in Port Chester, N.Y., was
taken over by New Century Bank of Pennsylvania at a cost to the FDIC fund of
about $17.4 million.

All 15 branches of Home National in
Oklahoma were purchased by RBC Bank. The Journal said the takeover cost the
FDIC $61.7 million.

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