On Friday, the Florida Office of Financial Regulation closed three bank subsidiaries of Bank of Florida Corporation: (1) Bank of Florida – Southeast, Fort Lauderdale, Florida; (2) Bank of Florida – Southwest, Naples, Florida; and (3) Bank of Florida –

Yesterday, the Michigan Office of Financial and Insurance Regulation closed CF Bancorp, headquartered in Port Huron, Michigan, and the FDIC was appointed receiver. As receiver, the FDIC entered into a purchase and assumption agreement with First Michigan Bank, headquartered in Troy, Michigan, to assume all of the deposits of CF Bancorp.

On Friday, the Georgia Department of Banking and Finance closed McIntosh Commercial Bank, headquartered in Carrollton, Georgia, and the FDIC was named receiver.

On Friday, OTS closed Waterfield Bank, headquartered in Germantown, Maryland and appointed the FDIC as receiver. As receiver, the FDIC created Waterfield Bank, FA, a new depository institution chartered by the OTS and insured by the FDIC, to take over the operations of Waterfield Bank. The new institution will remain open until April 5, 2010, “to allow depositors access to their insured funds and time to move accounts to other insured institutions.”

On Friday, the Florida Office of Financial Regulation closed Florida Community Bank , headquartered in Immokalee, Florida and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, headquartered in Miami, Florida, to assume all of the deposits of Florida Community Bank.

On Friday, the Michigan Office of Financial and Insurance Regulation closed Citizens State Bank, headquartered in New Baltimore, Michigan, and the FDIC was named as receiver.

Yesterday, the Georgia Departments of Banking and Finance closed United Security Bank, headquartered in Sparta, Georgia, and the FDIC was named as receiver.

Today, the Georgia Department of Banking and Finance closed the Georgian Bank, headquartered in Atlanta, Georgia, and the FDIC was named as receiver.

Yesterday, as receiver of two failed Florida banks, First State Bank and Community National Bank of Sarasota County, the FDIC entered into a purchase and assumption agreement with Sterns Bank, N.A., St. Cloud, Minnesota, to assume all the deposits of the failed banks. These closings bring the total number of failed bank’s in the nation this year to 71 and 6 in Florida.

Today, the Office of the Comptroller of the Currency closed Citizens National Bank, headquartered in Macomb, Illinois, and the FDIC was appointed receiver.