Federal regulators shutter banks in 3 states

WASHINGTON -- Regulators have shut banks in Florida, Illinois and Maryland, boosting to 25 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.

The Federal Deposit Insurance Corp. on Friday took over Sun American Bank, based in Boca Raton, Fla., with $535.7 million in assets and $443.5 million in deposits. Also seized were Bank of Illinois of Normal, Ill., with $211.7 million in assets and $198.5 million in deposits; and Waterfield Bank in Germantown, Md., with $155.6 million in assets and $156.4 million in deposits.