Four banks seized, including one TARP recipient

Four banks seized, including one TARP recipient

Regulators shut down four banks in the eastern half of the United States on Friday, including Midwest Bank and Trust Co., a Chicago-area institution with nearly $3.2 billion in assets.

The other closed banks were Satilla Community Bank, of St. Mary’s, Ga.; New Liberty Bank, of Plymouth, Mich.; and Southwest Community Bank, of Springfield, Mo.

Their failures brought the total for the year to 72, with the possibility of more closings in the Western states later tonight.

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