Hillcrest Bank Florida was closed by the Florida Office of Financial Regulation and handed over to the Federal Deposit Insurance Corporation as receiver. Next was Flagship National Bank, which was closed by the Office of the Comptroller of the Currency. Following Flagship was Bank of Elmwood, which was seized by the Wisconsin Department of Financial Institutions. After that, the Minnesota Department of Commerce closed Riverview Community Bank. Finally, First Dupage Bank was closed by the Illinois Department of Financial & Professional Regulation – Division of Banking. Losses from all of Friday’s failures, including two previously reported bank closings, are expected to hit $357 million.

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