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Regulators Seize Community Central Bank

MOUNT CLEMENS (WWJ/AP) - Regulators have seized a bank in Macomb County. The FDIC seized Community Central Bank in Mount Clemens, which had nearly $480 million in assets.

It's the bank was where 62-year-old David Widlak was last seen before he died. He had been serving as president and CEO of the bank when he vanished last year. 

After an extensive search effort spanning a month, body was found in a nearby swampy area of Lake Saint Clair.  Police have found virtually no productive leads in the case and they have not ruled out murder, or suicide

Regulators have shut down a total of five banks in Michigan, Florida and Georgia -- lifting the number of U.S. bank failures this year to 39. That follows 157 bank closures in 2010 in a limping economy and mounting soured loans.

The Associated Press contributed to this report.

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