WASHINGTON - May 1, 2009 - Regulators shut down Silverton Bank in Georgia on Friday and set up a temporary government-controlled bank until a buyer can be found.

Silverton, which operated as a sort of wholesale bank, fell victim to large losses on real estate construction and development loans, regulators said.

The federal Office of the Comptroller of the Currency closed Silverton Bank, based in Atlanta, and appointed the Federal Deposit Insurance Corp. as receiver. Silverton Bank had about $4.1 billion in assets and $3.3 billion in deposits as of May 1.

Also closed Friday was Citizens Community Bank in Ridgewood, New Jersey, with roughly $45.1 million in assets and $43.7 million in deposits as of December 31. Its deposits are being assumed by North Jersey Community Bank in Englewood Cliffs, and its sole office will reopen on Monday as a branch of that bank.