The Feds close three banks on Friday bring the number of banks to 123. The three banks 2 in southwest Florida and one in southern California. Orion Bank in Naples was shuttered by the regulators with$2.7 billion in assets and $2.1 deposits. Orion has 26 branches in south and southwest Florida.
The second bank closed on Friday was Century Bank of Florida based in Sarasota. Century had $728 million in assets and $635 million in deposits. Century’s 11 branches will reopen on Saturday.
Both banks was sold to Iberia Bank of Lafayette,LA
The third bank is Pacific Coast National Bank in San Clemente,CA. It had$134.4 million in assets and $130 million in deposits. It was taken over by Sunwest Bank of Tustin, Ca. Pacific Coast National branches in San Clemente and Encintas will become Sunwest Bank branches.