Sioux Falls-based BankFirst and Winder-based First Piedmont Bank were shut down Friday by regulators, pushing the bank failure tally to fifty five in 2009.

The Federal Deposit Insurance Corp. said BankFirst had $275 million in assets and $254 million in deposits as of April 30.

The failure is expected to cost the FDIC deposit insurance fund a projected amount of $91 million.

The FDIC further stated that Alerus Financial, National Association of Grand Forks, North Dakota, would assume all of the deposits of BankFirst, whose two branches would reopen on Monday as Alerus Financial branches.

Minneapolis-based holding company Marshall BankFirst Corp., which owned BankFirst said it's Marshall Bank, would not be affected by BankFirst's apprehension.

On the other hand, Winder-based First Piedmont Bank with total deposits worth $109 million and total assets value $115 million was also shut down by the regulator.

First American Bank and Trust Co. of Athens will take over insolvent First Piedmont Bank.