WALNUT CREEK (CBS/AP) – Regulators on Friday shuttered a pair of small banks, including one that operated in Walnut Creek, bringing to 11 the number of U.S. bank failures this year.

By this time last year, regulators had closed more than twice as many banks — 23.

All told, 92 banks were closed in 2011, representing a sharp decline from the two previous years, when banks were working their way through the bad debt accumulated in the recession.

The Federal Deposit Insurance Corp. closed Home Savings of America, based in Little Falls, Minn., with $434.1 million in assets and $432.2 million in deposits. The bank operated seven California branches.

The FDIC did not find another lender to take over the bank’s operations, so it will mail out checks to depositors in the amount of their insured funds.

The agency said it needs to obtain information from Home Savings customers to determine the number of uninsured deposits at the bank, which also had three branches in California. The FDIC insures up to $250,000 per depositor.

Regulators also closed Central Bank of Georgia, based in Ellaville, which had five branches, $278.9 million in assets and $266.6 million in deposits.

Ameris Bank, based in Moultrie, Ga., agreed to assume Central Bank’s deposits and essentially all of its assets.

The two bank failures are expected to cost the deposit insurance fund $106.3 million.

Complete FDIC List Of Failed Banks

How Healthy Is Your Bank?

Bank Ratings for Thrift, Credit Union and National Banks

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


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