Banks closed in Minn., Mo. raise this year's total to 76

WASHINGTON -- Regulators have closed a small bank in Minnesota and one in Missouri, increasing to 76 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. seized Riverbank, based in Wyoming, Minn., with $417.4 million in assets and $379.3 million in deposits; and Sun Security Bank of Ellington, Mo., with $355.9 million in assets and $290.4 million in deposits.

The failure of Riverbank is expected to cost the deposit insurance fund $71.4 million; that of Security Bank is expected to cost $118.3 million.