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4 more troubled US Banks closed

April 25, 2009

The number of bank failures in US reached 29 when regulators closed four more US banks yesterday. American Southern Bank in Georgia, Michigan Heritage Bank, First Bank of Idaho, and First Bank of Beverly Hills in California were the banks that were closed. The Federal Deposit Insurance Corp. (FDIC) was appointed receiver of all four banks and they will continue to insure deposits at American Southern Bank, Michigan Heritage Bank and First Bank of Idaho. The number of bank closures this year till now is more than the bank closures in all of last year.

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