Another five banks were seized by regulators yesterday, pushing the total number of failed banks to 108 for the year.
The failed banks were in four states – Florida, Georgia, Washington and Oregon – and the Federal Deposit Insurance Corp. immediately sold their deposits and branches to other banks.
Those branches reopened this morning under the management of their new owners
The failed banks are:
LibertyBank, of Eugene, Ore., which was sold to Home Federal Bank, which is based in Nampa, Idaho.
Cowlitz Bank, of Longview, Wash., which was sold to Heritage Bank, which is based in Olympia, Wash.
Coastal Community Bank, of Panama City Beach, Fla., which was sold to Centennial Bank, which is based in Conway, Ark..
Bayside Savings Bank, of Port Saint Joe, Fla., which was also sold to Centennial Bank.
NorthWest Bank & Trust, of Acworth, Ga., which was sold to State Bank and Trust Co., which is based in Macon, Ga..
Click on the name of each failed bank to see the FDIC closure report.