On Friday, the New Jersey Department of Banking and Insurance closed ISN Bank, headquartered in Cherry Hill, New Jersey, and appointed the FDIC as receiver for the bank.

On Friday, the Georgia Department of Banking & Finance closed NorthWest Bank and Trust, headquartered in Acworth, Georgia, and appointed the FDIC as receiver for the bank.

On Friday, the Office of Thrift Supervision closed Olde Cypress Community Bank, headquartered in Clewiston, Florida, and appointed the FDIC as receiver for the bank.

Yesterday, Lehman Brothers Holdings Inc. (LBHI) and the Official Committee of Unsecured Creditors of LBHI (the Committee) filed a complaint against JPMorgan Chase Bank, N.A. (JPMorgan) in the U.S. Bankruptcy Court for the Southern District of New York.

Yesterday, the Department of Insurance, Financial Institutions & Professional Regulation of the Missouri Division of Finance closed Champion Bank, headquartered in Creve Coeur, Missouri, and appointed the FDIC receiver.

On Friday, the OCC closed Unity National Bank, headquartered in Cartersville, Georgia, and the FDIC was named receiver.

On Friday, American International Group, Inc. (AIG) released its results for the fourth quarter and full year 2009. AIG reported a Q4 net loss of $8.9 billion, bringing 2009’s total net losses to $10.9 billion.

On Friday, the Florida Office of Financial Regulation closed Premier American Bank, headquartered in Miami, Florida, and the FDIC was named receiver.

Yesterday, the U.K. Treasury announced that it had published a report setting out detailed proposals for the effective management and resolution of failed investment banks.

Yesterday, the Missouri Division of Finance closed Gateway Bank of St. Louis, headquartered in St. Louis, Missouri, and the FDIC was appointed as receiver.