WASHINGTON -- Regulators closed two small banks in Georgia and one each in Florida, Kansas and Illinois on Friday, making 38 bank failures so far in 2012.

The FDIC seized $120 million Georgia Trust Bank in Buford, Ga.; $230 million First Cherokee State Bank in Woodstock, Ga.; $87 million Royal Palm Bank of Florida in Naples, Fla.; $110 million Heartland Bank in Leawood, Kan.; and $175 million Second Federal Savings and Loan Association of Chicago.

This year’s bank failures are down from 58 at the same time last year.

There have been 14 credit union failures so far this year.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.