On Friday May 1, 2009, 9:26 pm EDT
WASHINGTON (AP) -- Regulators shut down Silverton Bank in Georgia on Friday and set up a temporary government-controlled bank until a buyer can be found. Silverton, which operated as a sort of wholesale bank, fell victim to large losses on real estate construction and development loans, regulators said.
Also closed Friday was Citizens Community Bank in Ridgewood, N.J., and America West Bank in Layton, Utah.
Citizens Community Bank had roughly $45.1 million in assets and $43.7 million in deposits as of Dec. 31. Its deposits are being assumed by North Jersey Community Bank in Englewood Cliffs, and its sole office will reopen on Monday as a branch of that bank.
http://finance.yahoo.com/news/Banks-in-Georgia-NJ-Utah-shut-apf-15109052.html
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