brooksville, winter park banks fail

Cortez Community Bank of Brooksville and First National Bank of Central Florida in Winter Park failed Friday. Federal bank regulators sold the assets of both institutions to Miami-based Premier American Bank NA. All eight branches of the two closed banks will reopen on Monday as branches of Florida Community Bank, a division of Premier American. Depositors of the two failed banks automatically become depositors of Florida Community Bank. Deposits will continue to be insured by the FDIC. Cortez Community Bank had two branches, while First National Bank of Central Florida had six. The closings are the 35th and 36th FDIC-insured institutions to fail in the nation so far this year and the third and fourth in Florida.