The banking regulators of Florida state closed down Commerce Bank of Southwest Florida this week, taking the year to date bank closures in US to 124. There are expected to be more bank closures in the US over the coming months, as over 400 banks are found to be falling short of the capital adequacy requirements as of August 2009.
And at least 20% of these banks will be down over the coming six to twelve months , which can pull down the US banking system as a whole. Also the US FDIC, which funds such bank collapses, has been short of funds, and has been able to get more funding only last week.