The U.S. added two more banks to its growing list of bank failures Friday, bringing the tally for the year to 91.
Regulators shut down Chicago-based Corus Bank (CORS) – the second largest bank to fail this year – and turned most of its assets over to MB Financial (MBFI).
The bank, which did much of its business in commercial real-estate loans, had $7 billion in assets and $7 billion in deposits as of June 30, according to a statement issued by the FDIC. The cost to the FDIC’s Deposit Insurance Fund is estimated to be $1.7 billion.
Regulators also closed Woodbury, Minn.-based Brickwell Community Bank on Friday. CorTrust Bank of Mitchell, S.D. will assume virtually all of its assets.
Brickwell Community Bank had $72 million in assets and about $63 million in deposits as of July 24. The cost to the FDIC’s Deposit Insurance Fund is estimated to be $22 million.
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