Seven more banks failed last Friday, bringing the number of failed U.S. banks to 103 this year. The Federal Deposit Insurance Corp. took over all seven. The FDIC estimates that the hit on its insurance fund cost $432 million in total.
The seven affected banks are Sterling Bank of Lantana, Fla., Crescent Bank and Trust Company of Jasper, Ga., Williamsburg First National Bank of Kingstree, S.C., Community Security Bank of New Prague, Minn., SouthwestUSA Bank of Las Vegas, Nev., Thunder Bank of Sylvan Grove, Kan., and Home Valley Bank of Cave Junction, Ore.
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