UPDATE 1-U.S. closes four banks; 2010 failures now 155

Fri Dec 17, 2010 6:39pm EST

* U.S. closes four banks; total closures in 2010 now 155 (Adds failure of United Americas Bank)

WASHINGTON Dec 17 (Reuters) - U.S. authorities closed four banks on Friday, bringing the number of closures this year to 155.

Smaller financial institutions, in particular, continue to feel the impact of the struggling housing market, weak economy and high unemployment. The bulk of this year's closures have been smaller institutions, each with less than a billion dollars in assets. Large banks have recovered more quickly from the financial crisis.

The Federal Deposit Insurance Corp (FDIC) has said it expects bank closures to peak this year after 140 closures in 2009.

The FDIC announced the following closures on Friday:

* Appalachian Community Bank of McCaysville, Georgia; had assets of $68.2 million. Peoples Bank of East Tennessee of Madisonville, Tennessee, to assume the deposits

* Chestatee State Bank of Dawsonville, Georgia; had assets of $244.4 million. Bank of the Ozarks of Little Rock, Arkansas, to assume the deposits

* Bank of Miami, National Association of Coral Gables, Florida; had assets of $448.2 million. 1st United Bank of Boca Raton, Florida FUBC.O to assume the deposits.

* United Americas Bank, National Association, of Atlanta, Georgia; had assets of $193.8 million. State Bank and Trust Company of Macon, Georgia to assume the deposits. (Reporting by Glenn Somerville)

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