PRINCETON – Citizens First National Bank was closed late Friday afternoon by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

The bank was one of two shut down Friday by regulators. Heritage Bank of Florida, based in Lutz, Fla., also was seized. The two bank failures are expected to cost the deposit insurance fund $110.7 million, according to the Associated Press.

Citizens First had $924 million in assets and $869.4 million in deposits as of Sept. 30, the AP reported.