Regulators shutter 5 failed banks

WASHINGTON >> Federal regulators have closed two banks in Maryland and one each in Minne­sota, South Caro­lina and California, bringing to 22 the number of U.S. banks that have failed so far this year.

The Federal Deposit Insurance Corp. said Friday that it shuttered Bank of Eastern Shore in Cambridge, Md., as well as HarVest Bank of Maryland in Gaithersburg.

Regulators also closed Inter Savings Bank in Maple Grove, Minn., Plantation Federal Bank in Pawleys Island, S.C., and Palm Desert National Bank in Palm Desert, Calif.

Combined, the closed banks had $1.42 billion in assets and $1.34 billion in deposits as of Dec. 31.

Fired Yahoo CEO collects $16.4M

SAN FRANCISCO >> Former Yahoo CEO Carol Bartz received a compensation package valued at $16.4 million in her final year on the job, including a $3 million severance payment after the troubled Internet company abruptly fired her in September.

Bartz, now 63, stands to make even more from the nearly 386,000 shares of restricted stock and nearly 416,000 stock options that vested upon her ouster, according to a regulatory filing from Yahoo Inc. on Friday. Options and awards she received earlier in the year tallied at $12 million.