Sun America Bank in Florida, Bank of Illinois, Waterfield Bank in Maryland, and Centennial Bank in Utah were all shut down by the FDIC yesterday. The assets of Bank of Illinois and Sun America Bank were purchased by Heartland Bank and First Citizens Bank respectively. Waterfield Bank and Centennial Bank were unable to find buyers which means that all funds will be refunded to account holders. The 191 bank failures over the past 2 years seems like a pretty high number until you take into account that some economists have estimated that as many as 1,000 banks will fail over the next few years. There are still over 700 banks on the FDIC’s troubled list making it highly likely surpass the 140 bank failures that took place last year. All of these bank collapses are rapidly depleting the FDIC’s insurance fund.