Regulators Close Florida, Arizona Banks in First 2011 Failures

U.S. banking regulators shuttered two lenders, one each in Florida and Arizona, as the banking crisis enters its fourth year.

First Southern Bancorp purchased First Commercial Bank of Florida while St. Louis-based Enterprise Bank & Trust bought Legacy Bank of Scottsdale, Arizona, the Federal Deposit Insurance Corp. said yesterday in statements on its website. The closures cost the FDIC’s deposit-insurance fund $105.9 million.