* Largest was a Florida bank with $644.3 mln in assets
* Other failures were in Georgia, New Mexico
* Combined cost to FDIC insurance fund put at $284.6 mln (Adds details of closures and background)
WASHINGTON, June 25 (Reuters) - U.S. regulators on Friday closed three small banks, the Federal Deposit Insurance Corp said, bringing the tally of total U.S. bank failures so far this year to 86.
Even as an economic recovery buoys profits for big banks, smaller banks continue to struggle with bad commercial real estate loans.
The FDIC has said it expects failures will peak in the third quarter, but warned this week that economic threats could cloud recovery for the bank industry, such as concerns about the economic effects of the BP (BP.L)(BP.N) oil spill and European debt problems. [ID:nN22139258]
Last year, 140 U.S. banks closed, compared with 25 in 2008 and three in 2007.
On Friday, the FDIC said Peninsula Bank of Englewood, Florida was closed, with $644.3 million in assets. Premier American Bank in Miami will assume the deposits of the failed institution.
In Savannah, Georgia, First National Bank was shuttered. It had about $252.5 million in assets. The Savannah Bank, National Association, agreed to assume its deposits, the FDIC said.
In New Mexico, regulators closed High Desert State Bank in Albuquerque, which had about $80.3 million in assets. First American Bank, in Artesia, New Mexico, agreed to assume its deposits.
The newest failures on Friday were expected to cost the FDIC’s insurance fund a combined total of $284.6 million.
The FDIC said this week it expects bank failures to cost its insurance fund $60 billion from 2010 through 2014. (Reporting by Roberta Rampton; Editing by Gary Hill)