Regulators close nine banks in Arizona, California, Illinois and Texas, all through a purchase...

|By:, SA News Editor

Regulators close nine banks in Arizona, California, Illinois and Texas, all through a purchase and assumption agreement with U.S. Bank (USB), who takes on the banks' combined deposits of $15.4B. The closings bring 2009's bank-failure total to 115, at a combined estimated cost to the FDIC's Deposit Insurance Fund of $2.5B. (More from WSJ)