The Federal Deposit Insurance Corporation (FDIC) has closed four more banks in Michigan, Florida, Wisconsin and California, The Wall Street Journal reports. First Michigan Bank will assume all the $389.9 million in deposits of Peoples State Bank of Michigan.
Pacific Premier Bank will assume all the $205.3 million in deposits of Canyon National Bank of California, while Premier American Bank will assume the $116.7 million total deposits of Florida’s Sunshine State Community Bank. Royal Bank will assume all the $78.5 million deposits of Wisconsin-based Badger State Bank.
Click here for the story from The Wall Street Journal.
Click here for the additional coverage from Reuters.