WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

TD Bank bought $3.42 billion-asset Riverside National Bank of Florida; $393.3 million-asset First Federal Bank of North Florida and $90.5 million-asset AmericanFirst Bank. The three institutions were not affiliated with each other, but their purchase will allow TD Bank to pick up $3.1 billion in deposits and 69 offices in Florida.

In addition to picking up all of the banks' deposits, TD Bank bought virtually all of their assets as well. The bank entered into a loss-share agreement with the FDIC on a total of $2.2 billion of the failed institutions' assets. The agency said that initially TD Bank and the FDIC will share in the losses on a 50%-50% basis.

The FDIC estimated their failure will cost the Deposit Insurance Fund more than $500 million.

Friday was a busy night for the FDIC. In addition to those collapses, it also closed five other banks, bringing the yearly failure total to 50. Those failures totaled $2.2 billion in assets and are expected to cost the DIF $476 million.

The FDIC could not find a buyer for Lakeside Community Bank, a $53 million-asset bank in Sterling Heights, Mich., which was shut down by state regulators. The agency planned to mail checks to depositors. The bank held $52.3 million in total deposits, all of which were insured. The failure is expected to cost the DIF $11.2 million.

State regulators also shut down $268 million-asset Butler Bank in Lowell, Mass., which was purchased by People's United Bank in Bridgeport, Conn. People's did not pay the FDIC a premium to assume all of the deposits of Butler and essentially all of its assets. It entered into a loss-share transaction on $206.1 million of the bank's assets.

The failure is expected to cost the DIF $22.9 million.

California state regulators shut two banks on Friday. First, it closed $268.9 million-asset Innovative Bank in Oakland, Calif. The bank's $225.2 million in deposits and most of its assets were bought by Center Bank in Los Angeles. Center Bank paid a 0.5% premium for the transaction and entered into a loss-share agreement with the FDIC on $178.1 million of the failed bank's assets.

The FDIC estimated the failure will cost $37.8 million.

California also seized $628. 9 million-asset Tamalpais Bank in San Rafael. The bank's $487.6 million in deposits and most of its assets were bought by Union Bank in San Francisco. Union Bank paid a 2% premium to assume the deposits, and entered into a loss-share agreement with the FDIC on $522.3 million of the failed bank's assets.

The FDIC estimated the failure will cost $81.1 million.

Finally, Washington state regulators shut $1.13 billion-asset City Bank in Lynnwood. The bank's $1 billion in deposits and $704 million of its assets were bought by Whidbey Island Bank in Coupeville. Whidbey paid a 1% premium for the deposits and entered into a loss-share agreement on $455.6 million of City Bank's assets.

The FDIC estimated the failure will cost $323.4 million.