Salt Lake City, UT / March 5, 2010 / --  According to the FDIC's Chairman Sheila Bair, U.S. banks showed signs of incremental improvement" during the fourth quarter of 2009.  Further statistics provided by the FDIC indicate the number of troubled banks reached 702 last year. 

Yet financial institutions in Utah saddled by the weight of bad real estate loans continue to fold under mounting pressures.  The latest financial institution to succumb to bank failure and control to the FDIC was Centennial Bank, located in Ogden, Utah. 

To date, the FDIC has been unable to locate another financial institution willing to take over the banking operations of Centennial Bank.  As of December 31, 2009, Centennial Bank had approximately $215.2 million in total assets and $205.1 million in total deposits. 

The cost to the FDIC's Deposit Insurance Fund is estimated to be approximately $96.3million.  

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