WASHINGTON — Bank closings for the year hit 100 yesterday when regulators shut down Partners Bank in Florida. Financial institutions nationwide have collapsed under the weight of soured real estate loans and the Great Recession.

The Federal Deposit Insurance Corp. took over Partners Bank, a small bank in Naples, with $68.7 million in assets and $63.4 million in deposits. Stonegate Bank, based in Fort Lauderdale, Fla., agreed to buy the deposits and assets of Partners Bank.

The 100 failures are the most in a year since 1992 at the height of the savings-and-loan crisis. They have cost the federal deposit insurance fund about $25 billion so far this year.

TAX CREDIT PUSHES UP HOME RESALES

WASHINGTON — Racing to complete their purchases before a tax credit for first-time owners expires, homebuyers pushed sales up last month by the largest amount in more than 26 years.

After jumping 9.4 percent in September, home resales are up nearly 24 percent from the bottom in January, the National Association of Realtors said yesterday.

But the housing market's momentum could easily peter out if Congress doesn't extend the credit of up to $8,000 for first-time buyers beyond its Nov. 30 deadline.

FED CHIEF URGES FINANCIAL OVERHAUL

WASHINGTON — Federal Reserve Chairman Ben Bernanke prodded Congress yesterday to enact legislation overhauling the nation's financial regulatory system to prevent a repeat of the banking and credit debacles that had thrust the country into crisis.

For its part, the Fed has been taking steps to strengthen oversight of banks, sharpen consumer protections and on Thursday proposed to police banks' pay policies to make sure they don't encourage top executives and other employees to take reckless gambles.

But Congress needs to step in and close regulatory gaps and make other changes that only lawmakers have the power to do, Bernanke said.