Another Florida Bank is Shut Down; Fourth Failure in State This Year

The Office of Thrift Supervision closed Coastal Bank of Cocoa Beach, bringing this year's total number of U.S. bank failures to 40, The Street reported.

The Federal Deposit Insurance Corp. was appointed receiver, and sold the failed institution's $129.4 million in total assets and $123.9 million in total deposits to Premier American Bank of Miami.

Coastal Bank's two offices are scheduled to reopen Monday as Premier American branches.

With 49 bank failures since 2008, Florida ranks second behind Georgia (61) and ahead of Illinois (42).

Other Florida banks that have failed this year: First Commercial Bank of Florida, Orlando; Sunshine State Community Bank, Port Orange; and First National Bank of Central Florida, Winter Park.

View state-by-state map for details here. See list of failed banks here.