Three More Banks Closed By FDIC

The number of closed banks this year rose to 98, as three more banks were closed by FDIC on Friday. Warren bank of Michigan is one of them. It had $538M in assets and $501M in deposits which were taken over by Huntington National Bank of Ohio.

Jennings State Bank in Minnesota and Southern Colorado National Bank were also closed. Their assets were $56.53M and $39.5M respectively. Central bank in Minnesota took over $52.4M of deposits from Jennings State Bank, and Legacy Bank inherited $31.9M of deposits from Southern Colorado National Bank.