Bank of the Ozarks, Premier American Acquire More Failed Lenders

Bank of the Ozarks Inc. and Premier American Bank, U.S. lenders that have been growing through acquisitions, agreed to purchase two distressed banks each as financial firms fail after the real estate collapse.

Regulators shut five banks today, two each in Florida and Georgia, and one in Michigan, according to statements on the Federal Deposit Insurance Corp. website. The failures drained $643.2 million from the FIDC deposit-insurance fund.