WASHINGTON — Regulators closed $3.5 billion-asset Frontier Bank in Everett, Wash., and three other smaller banks in the Midwest to bring the year’s failure total to 64.
On a night when the Federal Deposit Insurance Corp. also resolved three institutions in Puerto Rico, the four failures on the mainland added even more strain on the Deposit Insurance Fund. In addition to Frontier, the agency found buyers for $1.6 billion-asset CF Bancorp in Port Huron, Mich., $187 million-asset Champion Bank in Creve Coeur, Mo., and $67 million-asset BC National Banks in Butler, Mo.
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