The Federal Deposit Insurance Corp. (FDIC) announced three bank closings Friday.
Tampa, Fla.-based American Momentum Bank acquired the deposits and essentially all of the assets of two of the banks: Apollo Beach, Fla.-based Southshore Community Bank and Sarasota, Fla.-based LandMark Bank of Florida. Southshore Community Bank's failure is estimated to cost the FDIC's insurance fund about $8.3 million, while LandMark Bank of Florida's is estimated to cost $34.4 million.
Regulators in Colorado closed Greeley, Colo.-based Bank of Choice. Kansas City, Mo.-based Bank Midwest NA acquired the failed bank's operations, including approximately $853 million of its assets. Bank of Choice's closing is estimated to cost the FDIC $213.6 million.
