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Markets

Two Florida Bank Failures Bring 2010 Total To 106

By John Letzing

Published July 30, 2010

| MarketWatch Pulse

SEATTLE -- Two bank closures in Florida on Friday brought the total number U.S. failures for the year to 106. The Federal Deposit Insurance Corp. said in a statement that Port Saint Joe, Fla.-based Bayside Savings Bank, and Panama City Beach, Fla.-based Coastal Community Bank were closed. The two banks had combined deposits of $415.6 million, and their failures will cost the deposit-insurance fund $110.7 million, the FDIC said.

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Two Florida Bank Failures Bring 2010 Total To 106

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