SAN FRANCISCO (MarketWatch) -- Calabasas, Ca.-based First Bank of Beverly Hills became the third bank closed by regulators Friday and the 28th U.S. bank failure of the year. The Federal Deposit Insurance Corp. said it will mail checks to insured depositors at the failed bank on Monday. First Bank of Beverly Hills had $1.5 billion in assets as of Dec. 31, the FDIC said, and $1 billion in deposits. The FDIC estimated the bank had $179,000 in uninsured deposits. The FDIC said, "an assuming institution could not be located" for the failed bank's deposits and assets.

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