First Commercial Bank of Florida and Legacy Bank of Scottsdale of Arizona have been closed by regulators, The Wall Street Journal reports. First Southern Bank will assume all of the $529.6 million deposits of First Commercial.

Enterprise Bank & Trust will assume the $125.9 million deposits of Legacy Bank. The cost of the combined bank failures to the Deposit Insurance Fund is estimated to be about $105.9 million by the Federal Deposit Insurance Corporation.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Bloomberg.