U.S. bank regulators say closed Bank of Wyoming

WASHINGTON (Reuters) - Federal bank regulators on Friday closed Bank of Wyoming, the 53rd U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.

The Federal Deposit Insurance Corp said Bank of Wyoming had $70 million in assets and $67 million in deposits. The failure is expected to cost the FDIC deposit insurance fund an estimated $27 million.

Central Bank & Trust based in Lander, Wyoming, agreed to assume the insured deposits of Bank of Wyoming, whose one branch will reopen during normal business hours as a branch of Central Bank & Trust.

Central Bank & Trust will purchase all deposits, except about $8 million in brokered deposits, held by Bank of Wyoming.

(Reporting by Tom Doggett))