The Office of Thrift Supervision on Friday closed Waterfield Bank in Germantown, making it the first bank failure in Maryland this year and the 25th in the nation. The bank, which had one branch and took deposits over the Internet, had $155.6 million in assets at the end of last year. Regulators transferred all insured deposits, except certificates of deposit and individual retirement accounts, to a newly created Waterfield Bank FA, a temporary institution where customers can access their funds until April 5. The Federal Deposit Insurance Corp. will mail checks to CD and IRA owners on Monday. Waterfield had $156.4 million in deposits, of which $407,000 fell outside the federal insurance limits. Customers with deposits above the $250,000 insurance limits may call 800-830-4735 to set up an appointment to talk to the FDIC. The cost of the Waterfield closing to the insurance fund is estimated at $51 million.

- Eileen Ambrose