BUSINESS BRIEFING / BANKING

Two bank closings on Friday bring to 31 the number of bank failures this year.

Regulators shut down Silverton Bank in Atlanta and set up a temporary government-controlled bank until a buyer could be found. The 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 the bank 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 Friday.

Also closed was Citizens Community Bank in Ridgewood, N.J., which had $45.1 million in assets and $43.7 million in deposits as of Dec. 31. Its deposits are being assumed by North Jersey Community Bank in Englewood Cliffs, and its sole office will reopen Monday as a branch of that bank.