Three more banks failed on Friday.

Bailout Sleuth:


Regulators closed three more banks, including Silverton Bank of Atlanta, which primarily served other financial institutions.

Thirty two banks have failed so far this year, compared with 25 for all of 2008.
The Office of the Comptroller of the Currency shut down Silverton and appointed the Federal Deposit Insurance Corp. as receiver. No buyers could be found for the bank, so the FDIC will be winding down its operations.

The Utah Department of Financial Institutions closed American West Bank, of Logan, Utah, and appointed the FDIC as receiver. It arranged for Cache Valley Bank, also of Logan, to take over the bank's branches and deposits.

The New Jersey Department of Banking and Insurance closed Citizens Community Bank, of Ridgewood, N.J., and appointed the FDIC as receiver. North Jersey Community Bank, of Englewood Cliffs, agreed to take over the failed bank.