US state regulators on Thursday closed six banks in Illinois and one in Texas, raising the number of US bank failures to 52 this year, reports the WSJ. The seizures were the most in a single day during the financial crisis. The Federal Deposit Insurance Corp estimated that the closures of First State Bank of Winchester, John Warner Bank, Rock River Bank, Elizabeth State Bank, First National Bank of Danville, Founders Bank and Millennium State Bank of Texas would cost it $314m.
