Published: Aug 20, 2010 11:32 PM EDT
Updated: Aug 21, 2010 4:30 AM EDT

WASHINGTON (AP) — Regulators on Friday shut down four California banks, a big community bank based in Chicago, and banks in Florida and Virginia. The closures boosted to 118 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday took over the California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma.

The FDIC also seized Chicago-based ShoreBank; Imperial Savings and Loan Association of Martinsville, Va., and two Florida banks: Community National Bank at Bartow and Independent National Bank, in Ocala.