5 banks shuttered; makes 33 closed in '11

By: AP
By: AP

Friday, April 15, 2011

WASHINGTON (AP) -- Regulators have shut down a total of five
banks in Alabama, Georgia and Minnesota, boosting the number of
U.S. bank failures this year to 33. There were 157 bank closures in
2010 amid the shattered economy and piles of bad loans.

The Federal Deposit Insurance Corp. took over Superior Bank,
based in Birmingham, Ala., with $3 billion in assets;
Birmingham-based Nexity Bank, with $793.7 million in assets; Bartow
County Bank of Cartersville, Ga., with $330.2 million in assets;
New Horizons Bank in East Ellijay, Ga., with $110.7 million in
assets; and Rosemount National Bank in Rosemount, Minn., with $37.6 million in assets.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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