U.S. banks backed by the Federal Deposit Insurance Corp. saw profits for the first three months of 2009 fall 61% from a year earlier as many lenders continue to suffer from the real estate slump and recession, a report compiled by the regulator says.

Champaign, Ill.-based Strategic Capital Bank is closed by regulators, marking the 35th bank failure of 2009, according to the Federal Deposit Insurance Corp.

On Monday the Dow Jones Industrial Average shot higher, as investors cheered events ranging from an election result in India to earnings reports and economic data in the United States. But it was all downhill from there as the Dow fell each of the next four days, even though it managed, along with the other two major indexes, a small gain on the week.

BankUnited SeizedLast night US bank regulators seized BankUnited FSB a Florida lending company owned by parent company BankUnited Financial Corp. (BKUNA) in what amounts to be the biggest bank failure for 2009.According to Reuters a team of private equity players led by John Kansas former head of North Fork Bank will put up $900 million to take over the banking operations. Other parties include Wilbur Ross’ WL Ross & Co Carlyle Croup Blackstone Group (BX) and Centerbridge Partners. The Federal Deposit Insurance Corp said it is trying to get more companies involved to invest in failing banks in an ...

BankUnited Financial, the largest lender based in Florida, is shut down by banking regulators and sold to a group of private-equity firms.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by TheFortuneFinancial.com.