Six Banks Close In Last Week

Federal and state regulators closed six more U.S. banks in the last week, bringing the total number of bank closings in 2011 thus far to 34. At the current rate, the total for the year would be 117, well below the 157 that closed last year.

This week's shuttered banks are in Alabama, Georgia, Minnesota and Mississippi.

The largest of this week's failed banks is Superior Bank of Birmingham, Ala. It had 73 branches and assets totaling $3 billion. Community Bancorp of Houston, Tex., will take over assets and deposits.

Another Birmingham bank, Nexity Bank, also closed its doors. It had $793.7 million in assets. AloStar Bank of Commerce, also in Birmingham, agreed to assume the assets and deposits.

Bartow County Bank of Cartersville, Ga., closed its doors for good Friday. It had $330.2 million in assets, which will be taken over by Hamilton State Bank, based in Hoschton, Ga.

Another Georgia bank, New Horizons Bank in East Ellijay, Ga., closed its doors with 110.7 million in assets. Citizens South Bank, based in Gastonia, N.C., is acquiring the assets and deposits.

Rosemount National Bank in Rosemount, Minn., closed Friday showing $37.6 million in assets. Those assets and deposits will be acquired by Central Bank, based in Stillwater, Minn.

Finally, federal and state regulators closed Heritage Banking Group, based in Carthage, Miss., with the bank reporting $224 million in assets at the last accounting. Trustmark National Bank, based in Jackson, Miss., is taking over operations.

Georgia continues to show weakness in the banking sector. The two Georgia banks closed this week are numbers seven and eight for the year. Sixteen Georgia banks closed last year, mainly because of bad real estate loans.