Federal regulators close four banks including Sun American Bank of Boca Raton

New York: Federal regulators close four banks including Sun American Bank of Boca Raton. US banking crisis seems to be far from over. If you thought that the economic crisis and recession are things of past, think twice. We have still to come out of it and the decision of the Federal controllers to shut down three banks all of them with more than a dozen branches is a rude shock.

The realization is setting in among people that we are still in the midst of a crisis.

Federal regulators have closed four banks including Centennial Bank, Waterfield Bank & Sun American Bank of Boca Raton.

Sun American Bank of Boca Raton is the largest bank of all that were shut down and its failure sends shockwaves that many such smaller banks with huge assets can further destabilize the banking sector that is still to come out of the worst recession that saw several top American banks going bankrupt.