The Federal Deposit Insurance Corp. has issued its proposed rules for U.S. banks to self-administer “capital adequacy” stress tests in the case of future economic downturns or crises. The tests will determine if banks with consolidated assets of more than $10 billion can maintain sufficient capital levels during scenarios involving national or international upheavals.

U.S. banks earned a profit of $35.3 billion in the third quarter, an $11.5 billion increase from the $23.8 billion in net income reported a year ago, said the Federal Deposit Insurance Corp. The FDIC-insured banks posted their best quarter since the financial crisis of three years ago, and the ninth consecutive quarter that earnings registered a year-over-year increase.

Horizon Bank, of Bradenton, has become Florida’s 23rd bank failure this year – and the nation’s 119th – but September has, so far, seen the fewest closures of the year, according to data from the Federal Insurance Deposit Corp. This year’s tally is still expected to surpass last year’s total of 140 bank failures.

Five more community banks from Florida, Georgia, Oregon and Washington have failed, siphoning nearly $335 million from the insurance fund of the Federal Deposit Insurance Corp. and pushing this year’s tally of closures to 108.
Florida’s total of bank failures reached 20 – by far the state with the highest closure rate.

U.S. bank failures have passed the 100 mark, hitting a tally of 103 so far in 2010 with seven more closures – reaching that milestone more than two months faster than last year. Regulators expect bank failures to peak before year’s end, but still surpass last year’s total of 140.

Five more U.S. banks have failed, bringing this year’s total to 96 – and Florida’s tally of closures jumped to 16, the hardest hit state, according to the Federal Deposit Insurance Corp. The FDIC’s latest bank-closure report is also notable for the acquisition of three of the five failed banks by a private-equity group, North American Financial Holdings Inc., based in Charlotte, North Carolina.