Two small US banks fail; brings year's tally to 15
WASHINGTON, Oct 10 (Reuters) - U.S. regulators took over two small banks on Friday, in Michigan and Illinois, bringing the tally of bank failures to 15 so far this year.
The Federal Deposit Insurance Corp. said it had seized Main Street Bank of Northville, Michigan, and Meridian Bank of Eldred, Illinois.
Main Street Bank had total assets of $98 million and total deposits of $86 million as of Oct. 7, the FDIC said, while Meridian Bank had $39.2 million in total assets and $36.9 million in total deposits as of Sept. 25.
The FDIC said it had found acquirers for the deposits of both failed banks. (Reporting by Karey Wutkowski; Editing by Tim Dobbyn)
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Paulson on defense
