USA - US bank Regulators have closed another bank on Friday 6^th July 2012.

This takes the total of failed banks in the USA to 32 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, July 6, 2012, Montgomery Bank & Trust, Ailey, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, excluding the Cede & Co. deposits, have been transferred to Ameris Bank, Moultrie, GA ("assuming institution") and will be available immediately. The former Montgomery Bank & Trust locations will reopen as branches of Ameris Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.2 million.

The FDIC estimates that the total cost to the Deposit Insurance Fund (DIF) of this weeks Bank failures will be $ 75.2 million.