Small Florida bank shuttered, 124th this year
Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th US bank to succumb this year to the struggling economy and rising loan defaults.
The Federal Deposit Insurance Corp. took over the small bank in Fort Myers, Fla., with $79.7 million in assets and $76.7 million in deposits.
Central Bank, based in Stillwater, Minn., agreed to assume the deposits and assets of Commerce Bank of Southwest Florida.
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