Another six banks were seized by regulators yesterday, pushing the total number of failed banks to 125 for the year.
The failed banks were in four states – New Jersey, Georgia, Ohio and Wisconsin – and the Federal Deposit Insurance Corp. immediately sold their deposits and branches to other banks.
Those branches will reopen no later than Monday under the management of their new owners
The failed banks are:
ISN Bank, of Cherry Hill, N.J., which was sold to Customers Bank, which is based in Phoenixville, Penn.
This marks the first time we can recall that a bank was seized when it was at the top of any of our rankings of the best national CD, savings or checking accounts.
Until it was closed yesterday, ISN Bank had been offering the best nationally available rate on 3-month certificates of deposit.
Bank of Ellijay, of Ellijay, Ga., which was sold to Community & Southern Bank based in Carrollton, Ga.
First Commerce Community Bank, of Douglasville, Ga., which was sold to Community & Southern Bank based in Carrollton, Ga.
The Peoples Bank, of Winder, Ga., which was sold to Community & Southern Bank based in Carrollton, Ga.
Bramble Savings Bank, of Milford, Ohio, which was sold to Foundation Bank based in Cincinnati, Ohio.
Maritime Savings Bank, of West Allis, Wis., which was sold to North Shore Bank based in Brookfield, Wis.
Click on the name of each failed bank to see the FDIC closure report.