Two banks close, total hits 22

Category: Business

Regulators seized two banks in Nevada and Washington state on Friday, bringing the year total to 22 as small institutions continue to struggle with bad loans.

The Federal Deposit Insurance Corp said Rainier Pacific Bank in Tacoma, Washington was closed, and its deposits were assumed by Umpqua Bank of Roseburg, Oregon.

Carson River Community Bank in Carson City, Nevada also was closed, and its deposits were assumed by Heritage Bank of Nevada, Reno, Nevada, the FDIC said.

The agency said earlier this week that the number of "problem" U.S. banks jumped 27 percent during the fourth quarter of 2009 to 702, the highest level since 1993 and a sign that the industry's recovery remains uneven.

Read More: Reuters