October 22nd, 2009 
admin In the latest sign of the lasting effects of the financial crisis, federal regulators today closed down the 100th bank this year.
The Office of Thrift Supervision Friday afternoon shut down Partners Bank of Naples, Florida.
The FDIC has announced the 100th U.S. bank failure of the year — Partners Bank of Naples, Fla. The two branches of Partners Bank will reopen on Monday as branches of Stonegate Bank. (ABC News Photo Illustration)
The Federal Deposit Insurance Corporation was appointed as the bank’s receiver and the FDIC then entered into an agreement with Stonegate Bank of Fort Lauderdale, Fla., to assume the deposits of Partners Bank. When the two branches of Partners Bank open on Monday, they will be branches of Stonegate Bank. As of Sept. 30, Partners Bank had assets worth $65.5 million, the FDIC said, and total deposits of approximately $64.9 million.
Shortly after closing Partners Bank, federal regulators also shuttered American United Bank in Lawrenceville, Ga., the 101st bank to collapse this year.
The Hillcrest Bank, another financial institution in Naples, Fla. has closed as well as the Flagship National Bank, Bradenton, Fla. to bring the number to 103.
Last week, regulators closed San Joaquin Bank in Bakersfield, Calif., the 99th bank to fail.
In all of 2008, federal regulators only shut down 25 banks. This year has already seen four times as many banks go down. Thus far banks have collapsed at an average of about 10 per month.
FDIC chief Sheila Bair today attempted to ease the concerns of bank customers.
“I want to take this opportunity to reassure consumers that their insured deposits are absolutely safe,” she said in a video posted on YouTube.
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