FDIC Shuts Four More U.S. Banks

The Federal Deposit Insurance Corporation has closed four more banks in Michigan, Florida, Wisconsin and California.

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.