Four more banks closed by regulators this year – FDIC
The federal regulators have closed four more banks this year according to the Federal Deposit Insurance Corporation (EDIC) that is in-charge of safeguarding bank deposits and resolving failed banks.
Till now, twenty banks have been closed by the regulators this year. The recently closed banks include George Washington Savings Bank in Illinois, La Jolla Bank in California, La Coste National Bank in Texas and Marco Community Bank of Marco Island, Florida.
La Jolla Bank had 10 branches and about $3.6 billion in assets and $2.8 billion in deposits. Now La Jolla's deposits will be taken over by OneWest Bank of Pasadena, according to the FDIC.
George Washington Savings Bank had 4 branches and $412.8 million in assets and $397.0 million in deposits. The deposits of the bank will be assumed by FirstMerit Bank of Akron, Ohio.
La Coste National Bank had $53.9 million in assets and $49.3 million in deposits. The bank will now will be taken over by Community National Bank of Hondo, Texas.
Marco Community Bank had $119.6 million in assets and $117.1 million in total deposits. Now all the deposit of the bank will be assumed by Mutual of Omaha Bank.
