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Market
FDIC Reports Two Bank Failures Friday
WASHINGTON (8/27/13)--Two banks closed Friday, which brings this year's total of failed U.S. banks to 20, the Federal Deposit Insurance Corp. announced Friday.

Sunrise Bank of Arizona, Phoenix, was closed and assumed by First Fidelity Bank N.A., Oklahoma City. Also, Community Bank, Parsons, Tenn., was closed and assumed by CB&S Bank Inc., Russellville, Ala.
 
As of June 30, the two banks had roughly $589.1. million in total assets and $574.6 million in total deposits.
 
The cost to the Deposit Insurance Fund will be $89.5 million, FDIC estimated. 
 
So far in 2013, the National Credit Union Administration has closed eight credit unions.


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