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WASHINGTON — Regulators have closed banks in Tennessee, Florida and Minnesota, lifting to seven the number of U.S. bank failures this year following 92 closures in 2011.
The Federal Deposit Insurance Corp. on Friday seized Tennessee Commerce Bank, based in Franklin, Tenn., with $1.2 billion in assets and $1.1 billion in deposits. It also closed BankEast, based in Knoxville, Tenn.; Florida’s First Guaranty Bank and Trust Co. of Jacksonville; and seized Patriot Bank Minnesota, based in Forest Lake, Minn. Denver Post staff and wire reports
