Regulators have seized seven U.S. banks. This has brought this year’s total of failed lenders to 140. The Federal Deposit Insurance Corp. excepts more shutdowns.

The FDIC said in statements on its Web site that Yesterday in six U.S. states banks having $14.4 billion in total assets were closed.

Two banks were closed in California. OneWest Bank has bought the assets and deposits of Federal Bank of California in Santa Monica. City National Corp. has bought the Imperial Capital Bank.

Federal Bank was the biggest bank closed Yesterday

According to the FDIC, Federal Bank was the biggest lender that has been seized yesterday, having $6.1 billion of assets and $4.5 billion in deposits. Based in La Jolla, assets of $4 billion and $2.8 billion in deposits were held by Imperial Capital.

FDIC boosted its 2010 budget by 56 percent to manage shutdowns

Earlier this week, in order to manage further shutdowns the FDIC boosted its 2010 budget by 56 percent to $4 billion. According to a proposal approved by the FDIC board, the total budget will increase from $2.6 billion and the set-aside for bank failures would double to $2.5 billion over this year. The agency staff will increase from 7,010 this year to 8,653 next year.

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