WASHINGTON Dec 17 U.S. authorities closed
three banks on Friday, bringing the number of closures this
year to 154.
Smaller financial institutions, in particular, continue to
feel the impact of the struggling housing market, the weak
economy and high unemployment numbers.
The Federal Deposit Insurance Corp has said it expects bank
closures to peak this year after 140 closures in 2009. 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 2007-2009 financial crisis.
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.
(Reporting by Glenn Somerville, editing by Tim Dobbyn)