WASHINGTON, June 26 (Reuters) - U.S. regulators closed Community Bank of West Georgia on Friday, a small bank in Villa Rica, Georgia, bringing the number of U.S. bank failures to 41 so far this year.

The Federal Deposit Insurance Corp said Community Bank of West Georgia had total assets of $199.4 million and total deposits of $182.5 million, as of May 15.

The closure is expected to cost the FDIC's deposit insurance fund about $85 million. The FDIC was appointed as receiver of the institution and will mail checks to insured depositors for their insured funds on June 29. (Reporting by Karey Wutkowski; Editing by Tim Dobbyn)