WASHINGTON (AP) — Regulators have shut down small banks in Florida, Michigan, Wisconsin and California, lifting to 18 the number of bank failures this year. The weak economy and bad debt brought down 157 banks nationwide in 2010.
The Federal Deposit Insurance Corp. on Friday seized the banks: Sunshine State Community Bank of Port Orange, Fla., with $125.5 million in assets; Peoples State Bank, based in Hamtramck, Mich., with $390.5 million in assets; Badger State Bank of Cassville, Wis., with $83.8 million in assets; and Canyon National Bank, based in Palm Springs, Calif., with $210.9 million in assets.
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