Regulators shut 7 banks including Lowndes

Published 12:00 am Saturday, March 20, 2010

WASHINGTON (AP) — Regulators have shut down banks seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year.

The Federal Deposit Insurance Corp. on Friday took over the banks: First Lowndes Bank, in Fort Deposit, Ala.; Appalachian Community Bank in Ellijay, Ga.; Bank of Hiawassee, in Hiawassee, Ga.; and State Bank of Aurora, in Aurora, Minn.

Earlier, the agency said it had shuttered Advanta Bank Corp., based in Draper, Utah; American National Bank of Parma, Ohio; and Century Security Bank of Duluth, Ga.