The Real Deal Miami

U.S. Bank failures reach 157

December 21, 2010 09:57AM

Another six banks were closed by federal regulators on Friday, including
one in Florida, bringing the total number of bank failures in 2010 to
157, compared to 140 in 2009 and just 25 in 2008. Bigger banks have
benefited from a number of federal programs, but smaller banks keep
struggling, with falling home prices and rising delinquencies hurting
their bottom line. The Coral Gables-based Bank of Miami, which had
assets of $448.2 million and total deposits of around $374.2 million as
of Sept. 30, failed on Friday. [Zacks]