Banks Fail in Three States

by Zagros on November 8, 2020

WASHINGTON (TheStreet) — Regulators closed four banks on Friday, bringing this year’s tally of U.S. bank failures to 143.

The bank closures cost the Federal Deposit Insurance Corp.’s insurance fund a combined $254.5 million.

All of the failed banks were previously included in TheStreet’s Bank Watch List of undercapitalized institutions, based on preliminary third-quarter regulatory data provided by SNL Financial.

K Bank of Randallstown, Md.

Sold to Manufacturers and Traders Trust Company of Buffalo, N.Y.

Western Commercial Bank of Woodland Hills, Calif.

Sold to First California Bank of Westlake Village, Calif.,  main subsidiary of First California Financial Group

Pierce Commercial Bank of Tacoma, Wash

Sold to Heritage Bank of Olympia, Wash. Heritage Bank is held by Heritage Financial Corp.(HFWA_).

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