USA - US bank Regulators have closed another Four banks on Friday 27th January 2012.

This takes the total of failed banks in the USA to 7 for the year.

Last year, 2011 93 US banks failed, a 33% drom on the previous year. In 2010 157 Banks failed, exceeding the total for the year before, 2009 when 140 Banks failed and just 25 banks failing in all of 2008, and only three in 2007.

1. On Friday, January 27, 2012, BankEast, Knoxville, TN was closed by the Tennessee Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, including brokered deposits, have been transferred to U.S. Bank National Association, Cincinnati, OH ("assuming institution") and will be available immediately.  The former BankEast locations will reopen as branches of U.S. Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.6 million.

2. On Friday, January 27, 2012, First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, FL was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, excluding the Cede & Co. deposits, have been transferred to CenterState Bank of Florida, National Association (N.A.), Winter Haven, FL ("assuming institution") and will be available immediately. The former First Guaranty Bank and Trust Company of Jacksonville locations will reopen as branches of CenterState Bank of Florida, N.A. during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $82.0 million.

3. On Friday, January 27, 2012, Tennessee Commerce Bank, Franklin, TN was closed by the Tennessee Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, excluding the Cede & Co. deposits, have been transferred to Republic Bank & Trust Company, Louisville, KY ("assuming institution") and will be available immediately.  The former Tennessee Commerce Bank location will reopen as a branch of Republic Bank & Trust Company during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $416.8 million.

4. On Friday, January 27, 2012, Patriot Bank Minnesota, Forest Lake, MN was closed by the Minnesota Department of Commerce, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts have been transferred to First Resource Bank, Savage, MN ("assuming institution") and will be available immediately.  The former Patriot Bank Minnesota locations will reopen as branches of First Resource Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $32.6 million.

The FDIC estimates that the total cost to the Deposit Insurance Fund (DIF) of this weeks Bank failures will be $ 607 million.