Regulators shut three banks on Friday, bringing the total failures in 2011 to 61 so far. The...

|By:, SA News Editor

Regulators shut three banks on Friday, bringing the total failures in 2011 to 61 so far. The banks closed were in Indiana, Virginia and South Carolina, with the combined cost to the FDIC's insurance fund expected to be $253.4M. By this time last year, regulators had shut 108 banks.