The Federal Deposit Insurance Corporation (FDIC) took over another bank on Friday, November 20, 2009. This closing brings the total for the year to 124. The bank taken over was Commerce Bank of Southwest Florida.

Details for the bank closing is included below for affected customers:

Commerce Bank of Southwest Florida

Commerce Bank of Southwest Florida, Fort Myers, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (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 Commerce Bank of Southwest Florida.

The sole branch of Commerce Bank of Southwest Florida will reopen on Monday as a branch of Central Bank. Depositors of Commerce Bank of Southwest Florida 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 branch until Central Bank can fully integrate the deposit records of Commerce Bank of Southwest Florida.