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WASHINGTON (Reuters) – U.S. authorities winking digit diminutive banks in west-central Colony and digit in pedagogue land on Friday, bringing the number of foreclosures in 2011 to 43.

CertusBank, a supplementary of Blue Ridge Holdings Inc, bought the Colony banks. Blue Ridge is led by past Bank of America Corp and Wachovia Corp executives who poverty to physique a regional bank in the U.S. Southeast.

The newborn acquisitions were ocean Southern Bank of Macon, and First Colony Banking Company of Franklin. ocean Southern Bank had assets of $741.9 meg and First Colony Banking had assets of $731 meg as of March 31.

Blue Ridge was bacilliform terminal year with $500 meg from investors. In January, it bought a South Carolina bank that regulators closed.

Together, ocean Southern and First Colony Banking had 26 branches, which module reopen on Sat as branches of CertusBank. The agent Deposit Insurance Corp, the earpiece of winking banks, said it entered into loss-share transactions with CertusBank totaling $1 billion.

Regulators also winking Summit Bank, of Burlington, Washington, most 50 miles northerly of Seattle. Columbia State Bank, of Tacoma, Washington, purchased the bank, which has threesome branches and had $142.7 meg in assets.

In 2010, 157 banks failed mass 140 failures in 2009. The bulk of the failures have increasingly been smaller institutions, those with inferior than $1 1000000000 in assets, as super banks have recovered more apace from the 2007-2009 business crisis.

FDIC Chairman Sheila Bair has said the authority expects the number of failures to start in 2011.

Community banks are struggling with the weak frugalness and some are covering problems attendant to their danger to the advertizement actual estate market.

Next week the corp module provide an update on the upbeat of the banking business when it releases its quarterly report on May 24.

The authority declared terminal period it expects that forthcoming bank failures module outlay the polity inferior than previously estimated.

The authority said on Apr 12 it is now estimating bank failures module outlay the industry-funded shelter fund most $45 1000000000 from 2010 finished 2014, compared with a prior estimate of $52 billion.

(Reporting by Charles Abbott)

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