North County Bank and Haven Trust Bank Florida failed Friday, according to the Federal Deposit Insurance Corporation (FDIC).
The Washington Department of Financial Institutions and the Florida Office of Financial Regulation were the groups in charge of closing the banks. The institutions were the 126th and 127th banks to fail across the nation this year. Haven Trust was the 24th Florida bank to fail since the beginning of 2010. North County was the tenth Washington-based institution to go under.
North County Bank was a regional bank based in Arlington, Wash. The four former North County branches will reopen as locations of Whidbey Island Bank. North County held $288.8 million in total assets. There is no need for customers to take any immediate action, but if you are curious about steps you should take in the future, click here for more information.
Haven Trust Bank Florida was a small institution with two branches in Florida. The bank, which held $148.6 million in assets, was headquartered in Ponte Vedra Beach, Fla.
The two branches of Haven Trust will reopen as locations of First Southern Bank.
The closure of the two banks continued what has been a busy past several weeks in bank failures. Regulators shut down six banks last week, three of which were located in the Southeast. The FDIC is currently on pace to oversee even more bank failures than it did last year when it handled 140 closures.
For a complete listing of 2010 bank failures click here.
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