U.S. regulators close three banks

WASHINGTON (Reuters) - Bank regulators closed three banks late on Friday -- Community Bank of Arizona, Community Bank of Nevada, and Union Bank, N.A. -- as the struggling economy and falling home prices continued to take their toll on financial institutions.

The latest closings brought the number of bank failures this year to 77, the FDIC said.

(Reporting by Tabassum Zakaria; Editing by Gary Hill)