Regulators shut down banks in five states : Mutual Bank of Harvey Biggest of Five

The AP reports:

Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults.

The Federal Deposit Insurance Corp. was appointed receiver of the five banks.

The agency shut down Integrity Bank of Jupiter, Fla., with $119 million in assets and $102 million in deposits, and First BankAmericano, based in Elizabeth, N.J., with $166 million in assets and $157 million in deposits.

Also closed were Peoples Community Bank, West Chester, Ohio, with $705.8 million in assets and $598.2 million in deposits; First State Bank of Altus, in Altus, Okla., with $103.4 million in assets and $98.2 million in deposits; and Mutual Bank of Harvey, Ill., with $1.6 billion in assets and $1.6 billion in deposits.

Mutual Bank of Harvey is noteworthy because of the Amrish Mahajan connection to Blago, Obama, and Mayor Daley. Here's more on the man Blago's children call Uncle Amrish.