USA - US bank Regulators have closed another five banks on Friday 21^st July 2012.

This takes the total of failed banks in the USA to 38 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 20, 2012, First Cherokee State Bank, Woodstock, 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 Community & Southern Bank, Atlanta, GA ("assuming institution") and will be available immediately. The former First Cherokee State Bank locations will reopen as a branch of Community & Southern Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.9 million.

2.  On Friday, July 20, 2012, The Royal Palm Bank of Florida, Naples, 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 First National Bank of the Gulf Coast, Naples, FL ("assuming institution") and will be available immediately. The former The Royal Palm Bank of Florida locations will reopen as branches of First National Bank of the Gulf Coast during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.5 million.

3.  On Friday, July 20, 2012, Georgia Trust Bank, Buford, 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 certain brokered deposits, have been transferred to Community & Southern Bank, Atlanta, GA ("assuming institution") and will be available immediately. The former Georgia Trust Bank locations will reopen as branches of Community & Southern Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million.

4.  On Friday, July 20, 2012, Heartland Bank, Leawood, KS was closed by The Kansas Office of the State Bank Commissioner, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, including brokered deposits, have been transferred to Metcalf Bank, Lees Summit, MO ("assuming institution") and will be available immediately. The former Heartland Bank locations will reopen as branches of Metcalf Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.1 million.

5.  On Friday, July 20, 2012, Second Federal Savings and Loan Association of Chicago, Chicago, IL was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts, including brokered deposits, have been transferred to Hinsdale Bank & Trust Company, Hinsdale, IL ("assuming institution") and will be available immediately. The former Second Federal Savings and Loan Association of Chicago locations will reopen as branches of Hinsdale Bank & Trust Company during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $76.9 million.

The FDIC estimates that the total cost to the Deposit Insurance Fund (DIF) of this weeks Bank failures will be $ 151.3 million.