US bank failures touch 106

The seven that were shuttered on Friday all had assets under $350 million. The largest bank failure in the current crisis was Washington Mutual, which had assets of $307 billion when it was shuttered in September 2008.

Federal Deposit Insurance Corp said banks that were closed included Partners Bank in Florida, American United Bank in Georgia, Hillcrest Bank Florida, Flagship National Bank in Florida, Bank of Elmwood in Wisconsin, Riverview Community Bank in Minnesota, and First Dupage Bank in Illinois.

Those failures brought the number of closings past 100 for the year, and is the first time the annual number of closures has reached that level since 1992 when 181 banks failed. There were 25 bank failures in 2008, up from three in 2007.

At the peak of the S&L crisis in 1989, regulators closed 534 banks.

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