Another seven U.S. banks were closed on Friday by regulators.

Among them was American National Bank, Parma, Ohio. It was shut down by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

To protect the depositors, the FDIC entered into a purchase and assumption agreement with The National Bank and Trust Company, Wilmington, Ohio, to assume all of the deposits of the 47-year old American National Bank.

The sole branch of American National Bank at 5603 Ridge Road, Parma, OH will reopen on Monday as a branch of The National Bank and Trust Company. Depositors of American National Bank will automatically become depositors of The National Bank and Trust Company, the FDIC said in a statement published on Friday. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from The National Bank and Trust Company that it has completed systems changes to allow other The National Bank and Trust Company branches to process their accounts as well, the FDIC statement said.

Over the weekend, depositors of American National Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual, the FDIC statement said.

As of December 31, 2009, American National Bank had approximately $70.3 million in total assets and $66.8 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.1 million.