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U.S. closes small Florida bank; 128th 2010 failure
October 1, 2010 / 10:50 PM / 7 years ago

U.S. closes small Florida bank; 128th 2010 failure

WASHINGTON, Oct 1 (Reuters) - U.S. regulators closed Wakulla Bank, of Crawfordville, Florida, on Friday, the 128th U.S. bank failure so far this year.

The Federal Deposit Insurance Corp said Wakulla Bank had approximately $424.1 million in total assets and 12 branches.

Centennial Bank, of Conway, Arkansas, owned by Home BancShares (HOMB.O), will assume the deposits of Wakulla Bank.

Wakulla’s failure is expected to cost the FDIC’s deposit insurance fund $113.4 million. (Reporting by Charles Abbott; Editing by Tim Dobbyn)

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