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FDIC Seizes Five More Lenders

U.S. regulators have closed five more banks in Florida, Georgia and Michigan, taking the total number of failures this year to 39.

    U.S. regulators have closed five more banks in Florida, Georgia and Michigan, taking the total number of failures this year to 39,The Wall Street Journalreports. TheFederal Deposit Insurance Corporationhas closedFirst Choice Community BankandPark Avenue Bankin Georgia, which will be taken over byBank of the Ozarks.

    Premier American Bankwill acquire theFirst National Bank of Central FloridaandCortez Community BankinFlorida. In Michigan, four branches ofCommunity Central Bank of Mount Clemensare being taken over byTalmer Bank & Trust.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromBloomberg.

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