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Here are bank closures for August 28, 2009. These represent the 82nd, 83rd and 84th closures so far this year. I will update you as more closures come in.

Banks_____________State___________Assets_________Deposits

Bradford Bank_______MD___________$452M_________$383M

Mainstreet Bank______MN__________$459M__________$434M

Affinity Bank_________CA___________$1B_____________$922M

The FDIC estimates its loss on Bradford Bank to be $97M and entered a loss-share agreement with the acquiring bank, M&T Bank, for $383M.

The FDIC estimates its losses on Mainstreet Bank to be $95M and they entered into a loss-share agreement with the acquiring bank, Central Bank, for $268M.

The FDIC Estimates a loss of $254M and entered into a loss-share agreement with Pacific Western Bank for $934M.

Bradford Bank:

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

The nine branches of Bradford Bank reopened 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.

Mainstreet Bank:

Mainstreet Bank, Forest Lake, Minnesota, was closed Friday by the Minnesota Department of Commerce, 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 Mainstreet Bank.

The eight branches of Mainstreet Bank reopened 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.

Affinity Bank:

Affinity Bank, Ventura, California, was closed Friday by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (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 reopened starting Saturday 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. 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 Pacific Western Bank can fully integrate the deposit records of Affinity Bank.

Source: Bank Closures for Friday August 28, 2009