Getting your player ready...
WASHINGTON — Regulators shut down a Florida bank on Friday, bringing to five the number of bank failures so far in 2010, following 140 closures last year in the toughest economic environment since the Great Depression.
The regulators used a novel procedure for Miami-based Premier American Bank, employing the first so-called “shelf charter” to give preliminary approval to a group of investors to obtain a national bank charter before they acquired a troubled institution.
