USA - US bank Regulators have closed another three banks on Friday 15^th June 2012.

This takes the total of failed banks in the USA to 31 for the year.

Last year, 2011 93 US banks failed, a 33% drop 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, June 15, 2012, The Farmers Bank of Lynchburg, Lynchburg, TN, including the one branch of First State Bank, Chapel Hill, TN and the two branches of Oakland Deposit Bank, Oakland, TN were 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 Clayton Bank and Trust, Knoxville, TN ("assuming institution") and will be available immediately.  The former The Farmers Bank of Lynchburg locations will reopen as branches of Clayton Bank and Trust during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.3 million.

2. On Friday, June 15, 2012, Putnam State Bank, Palatka, FL was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, including brokered deposits, have been transferred to Harbor Community Bank, Indiantown, FL ("assuming institution") and will be available immediately. The former Putnam State Bank locations will reopen as branches of Harbor Community Bank, during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.4 million.

3. On Friday, June 15, 2012, Security Exchange Bank, Marietta, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, including brokered deposits, have been transferred to Fidelity Bank, Atlanta, GA ("assuming institution") and will be available immediately.  The former Security Exchange Bank locations will reopen as branches of Fidelity Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $34.3 million.

The FDIC estimates that the total cost to the Deposit Insurance Fund (DIF) of this weeks Bank failures will be $ 100 million.