US regulators closed two more banks on Friday - one in Utah and another in Nebraska - bringing the total number this year to 87. The Federal Deposit Insurance Corporation (FDIC) said the SunFirst Bank of Saint George, Utah, has been closed. It said the three branches of SunFirst Bank will reopen as branches of Cache Valley Bank on Saturday.
SunFirst Bank had about $198.1 million in total assets and $169.1 million in total deposits as of September 30, 2011. The FDIC also said that Mid City Bank, Inc in Omaha, Nebraska, was shuttered, with the deposits being assumed by Purdum State Bank in Purdum, Nebraska. Purdum State Bank will change its name to Premier Bank on Saturday, when the five Mid City Bank branches will reopen under the new name. As of September 30, 2011, Mid City Bank, Inc had about $106.1 million in total assets and $105.5 million in total deposits.
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