NEW YORK (CNNMoney.com) -- State regulators shuttered Commerce Bank of Southwest Florida in Fort Myers, Fla., Friday night, bringing the 2009 national tally to 124.

Customers of Commerce Bank of Southwest Florida bank are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.

Central Bank in Stillwater, Minn., will assume all of the failed bank's $76.7 million in deposits, according to the FDIC. Central Bank also entered into a loss-share agreement with the FDIC on $61 million of Commerce Bank's $79.7 million in assets.

The single branch of Commerce Bank will reopen on Monday as a branch of Central Bank.

Customers of the failed bank can access their money over the weekend by writing checks or using ATMs or debit cards. Checks will continue to be processed, and borrowers should make mortgage and loan payments as usual.

The FDIC also said customers should continue to use their existing branch until they receive notice from Central Bank that the takeover has been completed.

An average of 11 banks have failed per month this year, and the federal coffer is thinning under the massive strain.

The fund now stands below $10 billion, down significantly from $45 billion a year ago. Friday's closure will cost the FDIC an estimated $23.6 million.

After factoring in expected closures, the agency says its insurance fund is in the red and will remain there through 2012. Over the next four years, the agency expects bank closures will cost $100 billion.

The bank failure count for 2009 is still far from 1989's record high of 534 bank closures which took place during the savings and loan crisis, when the insurance fund also carried a negative balance.

The tally is nearly five times the number that failed in 2008, and the highest tally since 1992 when 181 banks failed.