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Unlike the majority of banks closed this year, IBB did not take deposits from, or make loans to consumers. Instead, it offered a variety of services such as check clearing and credit card operations to community banks around the country that find it too costly to do this on their own.

The FDIC said it created a bridge bank to take over the operations of the Springfield Ill.-based institution.

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NEW YORK (CNNMoney.com) — The nation’s tally of 2009 bank casualties hit 130 Friday when regulators shuttered a large Ohio bank, an Illinois bank, a Virginia bank and three small Georgia banks.

The largest bank to fail was AmTrust Bank in Cleveland.

Regulators also closed Benchmark Bank in Aurora, Ill., and Greater Atlantic Bank in Reston, Va.

The Buckhead Community Bank in Atlanta, Ga., First Security National Bank in Norcross, Ga., The Tattnall Bank in Reidsville, Ga., were also closed.

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NEW YORK (CNNMoney.com) — Five banks failed late Friday, bringing the 2009 tally to 120.

The biggest to fall was United Commercial Bank of San Francisco, which had 63 U.S. branches as well as operations in Hong Kong and Shanghai. The bank held deposits totaling $7.5 billion.

East West Bank of Pasadena, Calif., agreed to assume all of United Commercial’s domestic branches, as well as its international subsidiaries.

United Security Bank of Sparta, Ga., closed its doors for the last time on Friday. Moultrie, Ga.-based Ameris Bank will assume control of all United Security’s deposits.

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NEW YORK (Fortune) — It’s time for Sheila Bair to stop worrying about bailout politics and hit Uncle Sam up for some dough.

Bair is the chairman of the Federal Deposit Insurance Corp., the federal agency that administers the insurance fund that stands behind the savings of millions of Americans.

The fund is paid for by the banks that benefit from it, but it has been depleted by a wave of bank failures that isn’t expected to abate any time soon.

The FDIC board is scheduled to meet Tuesday to discuss how to raise money to restock the fund. There aren’t a lot of good options.

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NEW YORK (CNNMoney.com) — Bank of America said Monday it will pay the U.S. government $425 million to end a federal backstop of assets related to its purchase of troubled brokerage Merrill Lynch earlier this year.

The government agreed to guarantee $118 billion in assets in January as part of a plan to help BofA absorb Merrill Lynch, which was on the verge of failure. In exchange, BofA agreed to pay the U.S. a fee of 3.7%.

On Monday, BofA said it will pay $425 million to the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation to terminate the agreement.

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NEW YORK (CNNMoney.com) — Regulators closed subsidiaries of Irwin Financial Corporation in Kentucky and Indiana Friday, bringing the total number of bank failures this year to 94, according to the Federal Deposit Insurance Corp.

Customers of the bank, however, are protected. The FDIC, which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.

Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B. operated a combined 27 branches in nine U.S. states. Both banks were run by Columbus, Ind.-based Irwin Financial Corp.

First Financial Bank, NA, which is based in Hamilton, Ohio, will assume all of the deposits of the two banks.

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NEW YORK (CNNMoney.com) — Some unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC.

The Federal Deposit Insurance Corp. said on Friday it is encouraging certain banks to reduce mortgage payments for the unemployed or underemployed for at least six months.

Overall, relatively few of the unemployed will benefit from this recommendation because the effort would only apply to a handful of institutions.

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NEW YORK (CNNMoney.com) — Five small regional banks were closed by regulators on Friday evening, pushing 2009’s tally so far to 89 institutions. Of the five failures, two were in Illinois, and there was one each in Arizona, Iowa and Missouri.

Customers of the banks, however, are protected. The Federal Deposit Insurance Company, which has insured bank deposits since the Great Depression, covers each customer account up to $250,000.

In Illinois, Platinum Community Bank, in Rolling Meadows, and InBank, in Oak Forest, were the latest institutions to be cosed by regulators. This makes for a total of 15 failed Illinois banks this year. The last one to go under was Mutual Bank, in Harvey, on July 31, 2009.

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NEW YORK (CNNMoney.com) — As yet another bank faces collapse, consumers are worried about their cash.

So far this year, 72 banks have failed, according to the Federal Deposit Insurance Corporation. Struggling southern regional bank Colonial Bank could be the 73rd.

But individuals with deposits at Colonial, or any other troubled bank, are insured by the FDIC for up to $250,000. And in the FDIC’s 75-year history, no customer has ever lost an insured deposit.

“When your money is in a bank that is FDIC insured it is backed by the full force of the United States government, and it doesn’t get any better than that,” said Carol Kaplan, a spokeswoman with the American Bankers Association.

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NEW YORK (CNNMoney.com) — First Bank of Idaho became the fourth U.S. bank to fail Friday, raising the 2009 total to 29 — four more than the 25 that failed all of last year, the government said.

The failure of the Ketchum, Idaho-based bank, along with banks based in Georgia, Michigan and California, will cost the Federal Deposit Insurance Corp.’s deposit insurance fund $698.4 million.

Idaho: First Bank of Idaho became the first bank based in the state to fail in more than 20 years Friday, when the FDIC was appointed receiver by the Office of Thrift Supervision. The bank had $374 million in deposits and $488.9 million in assets.

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NEW YORK (CNNMoney.com) — Two banks failed Friday, bringing the 2009 tally to 23, according to the government.

Cape Fear Bank of Wilmington, N.C., and New Frontier Bank of Greeley, Colo., closed their doors for the last time Friday, said the Federal Deposit Insurance Corporation.

Charleston, S.C.-based First Federal Savings and Loan Association of Charleston will assume control of all Cape Fear’s deposits.

The failure of Cape Fear will cost the Deposit Insurance Fund an estimated $131 million, according to the FDIC.

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NEW YORK (CNNMoney.com) — State bank regulators closed two more banks on Friday, the 15th and 16th banks to fail this year, as the worsening recession pulled more regional banks underwater.

The announcement marks the seventh consecutive week of bank failures being announced on a Friday evening.

The Federal Deposit Insurance Corp. said that Security Savings Bank of Henderson, Nevada, had $238.3 million in assets and $175.2 million in deposits as of December 31, 2008. Heritage Community Bank of Glenwood, Illinois, had assets totaling $232.9 and deposits totaling $218.6 million as of December 5, 2008.