WASHINGTON — Regulators seized five banks in as many states Friday, bringing the 2010 failure total to nine.
For the first time, a private-equity buyer was allowed to use a so-called "shelf" charter to buy a failed bank. The target was Premier American Bank, a $350 million-asset bank in Miami, and the buyer was Bond Street Bank, a wholly owned subsidiary of Bond Street Holdings LLC, a Delaware limited liability company.
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