Eight Banks across the Country shut down by state and federal regulators on Friday in Michigan, Florida and Massachusetts.
The banks close includes: Lakeside Community Bank in Sterling Heights, MI in suburban Detroit. AmericanFirst Bank, Clermont, Fl in the Greater Orlando Area; First Federal Bank of North Florida in Palatka in Jacksonville Metropolitan area; Riverside National Bank of Florida in Ft. Pierce. Tamapais Bank in San Rafeal,Ca; Innovative Bank of Oakland and City Bank in Lynwood,WA.
TD Bank the US subsidiary of Toronto Dominion Bank has acquired the three Florida banks. The acquisition expands TD Banks presence in Eastern Florida From Jacksonville to Orlando to Miami.
Union Bank, California extends it reach to Northern California through the purchase for Tamalpais Bank serving San Francisco North Bay suburb in Marin County.
Center Bank of Los Angeles obtains Innovative Bank branches and Deposits.
City Bank based in Lynwood sold to Coupeville,WA Whidbey Island.
People’s United Bank of Bridgeport,CT will take over Butler Bank assets and deposits.
No Owner was found for Lakeside Community Bank. First Michigan Bank of Troy, Mi will handle Lakeside federal direct deposits services which includes Social Security.