Michigan's Warren Bank is 96th failure of 2009

By John Letzing

SAN FRANCISCO (MarketWatch) -- Warren, Mich.-based Warren Bank was closed by regulators Friday, marking the 96th U.S. bank failure of the year. Warren Bank had $538 million in assets and $501 million in deposits as of July 31, according to the Federal Deposit Insurance Corp. The FDIC said in a statement that the bank's failure will cost the deposit-insurance fund $275 million.