Three banks were taken over by the federal regulators on Friday, reports Marketwatch. The banks included FirstCity in Georgia, Colorado National Bank in Colorado Springs, Colorado and Teambank in Paola, Kansas.
FirstCity becomes the eighth Georgia-based bank to fail since the economy began sliding into crisis last August, according to FDIC data. The last Georgia bank to fail was Freedom Bank of Georgia on March 6, the regulator said. It estimated the cost of FirstCity's failure to the deposit insurance fund as roughly $100 million.
The FDIC also said Colorado Springs-based Colorado National Bank was closed, and Texas-based Herring Bank will assume all of the failed bank's deposits.
Colorado National had $123.5 million in assets as of Dec. 31, and $82.7 million in deposits, the FDIC said. It estimated the cost of Colorado National's failure to the deposit insurance fund as roughly $9 million.
Paola, Kan.-based Teambank also was closed by regulators, the FDIC said, while Missouri-based Great Southern Bank will assume its deposits.
In addition to the bank closings, two wholesale credit unions were also taken over by the government on Friday.
You can more information on the bank closings on FDIC's website. Here are the direct links for each bank that closed:
Three banks were taken over by the federal regulators on Friday, 
