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First Community Bank closed

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By Associated Press

WASHINGTON — Regulators on Friday closed banks in Colorado, New Mexico, Oklahoma and Wisconsin, lifting to 11 the number of bank failures in 2011 following last year’s toll of 157 taken down by the weak economy and piles of soured loans.
The Federal Deposit Insurance Corp. took over the banks: First Community Bank, based in Taos, with $2.3 billion in assets; FirsTier Bank, based in Louisville, Colo., with $781.5 million in assets; First State Bank of Camargo, Okla., with $43.5 million in assets; and Evergreen State Bank, based in Stoughton, Wis., with $246.5 million in assets.
Minneapolis-based U.S. Bank agreed to assume the assets and deposits of First Community Bank. Bank 7, based in Oklahoma City, is acquiring the assets and deposits of First State Bank.

The Associated Press


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