Three more banks failed in America yesterday in California, Maryland and Minnesota on Saturday causing the total count of failed banks in 2009 to rise to 84. America is currently facing the worst crisis since the Great Depression.

Federal Deposit Insurance Corp. (FDIC) took control of the three banks: Affinity Bank of Ventura (California), Bradford Bank of Baltimore (Maryland) and Mainstreet Bank of Lake Forest (Minnesota).

It is evident that regulators seem to be closing bank at a very fast pace and we can expect some more closures as losses from real-estate debt pile up.

The deposits of the three banks that failed will be assumed by three different banks. Pacific Western Bank of San Diego will assume deposits of Affinity Bank, Central Bank of Stillwater will assume deposits of Mainstreet Bank and Manufacturers & Traders Trust Co. of Buffalo will assume Bradford Bank.