The Federal Deposit Insurance Corporation (FDIC) took over 3 banks on Friday, August 28, 2009. These closings bring the total for the year to 84. The banks closed are located in California, Minnesota, and Maryland. The banks include Affinity Bank of Ventura, California, Mainstreet Bank of Forest Lake, Minnesota, and Bradford Bank of Baltimore, Maryland.

Details for each bank are included below for affected customers:

Affinity Bank, Ventura, California

Affinity Bank, Ventura, California, was closed today by the California Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Western Bank, San Diego, California, to assume all of the deposits of Affinity Bank.

Affinity Bank had ten branches. The former Affinity Bank branches located in San Francisco and San Mateo will reopen starting tomorrow and the remaining branches will reopen on Monday as branches of Pacific Western Bank. Depositors of Affinity Bank will automatically become depositors of Pacific Western Bank.

Mainstreet Bank, Forest Lake, Minnesota

Mainstreet Bank, Forest Lake, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Mainstreet Bank.

The eight branches of Mainstreet Bank will reopen on Saturday as branches of Central Bank. Depositors of Mainstreet Bank will automatically become depositors of Central Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Central Bank can fully integrate the deposit records of Mainstreet Bank.

Bradford Bank, Baltimore, Maryland

Bradford Bank, Baltimore, Maryland, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Manufacturers and Traders Trust Company (M&T), Buffalo, New York, to assume all of the deposits of Bradford Bank.

The nine branches of Bradford Bank will reopen on Saturday as branches of M&T. Depositors of Bradford Bank will automatically become depositors of M&T. Depositors will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until M&T can fully integrate the deposit records of Bradford Bank.

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