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North Milwaukee State Bank, WI, First Bank Failure of 2016
The first bank failure of 2016 occurred today when regulators closed a small bank in Wisconsin. It has been almost six months since the last banking failure in the U.S. The last FDIC insured bank...
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Trust Company Bank, Memphis, TN, Closed by Regulators
Trust Company Bank, Memphis, Tennessee, was closed by state regulators who appointed the FDIC as receiver. In order to protect depositors the FDIC sold the failed bank to The Bank of Fayette County,...
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First Cornerstone Bank, King of Prussia, PA – Largest Bank Failure of 2016
The largest banking failure of the year occurred when state regulators closed the First Cornerstone Bank, King of Prussia, PA. In order to protect depositors, the FDIC in its role as receiver, entered...
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The Woodbury Banking Company Closed by Regulators
The Woodbury Banking Company, a tiny bank located in Woodbury, Georgia, was closed today by Georgia state regulators. The FDIC, appointed as receiver, sold the bank to United Bank, Zebulon, Georgia,...
View ArticleAllied Bank, Mulberry, AK, Becomes Fifth Bank Failure of 2016
It’s been six years since a bank failed in the state of Arkansas but this trend ended on Friday when state regulators closed Allied Bank in Mulberry, Arkansas. The failure of Allied Bank apparently...
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Five Billion Dollar Bank Failure – First NBC Bank, New Orleans, Closed by...
A very large bank failure occurred today when state regulators closed First NBC Bank, New Orleans, and appointed the FDIC as receiver. To prevent losses to depositors, the FDIC took a significant hit...
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Billion Dollar Bank Failure – Guaranty Bank of Wisconsin Closed by Feds
For the second week in a row a billion dollar bank was closed by regulators. Last week it was First NBC Bank of New Orleans and today it was Guaranty Bank, Milwaukee, Wisconsin (doing business as Best...
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Worst Bank Merger Ever – M&T Bank and People’s United – Nothing Works, and...
Customers of People’s United Bank are furious over the horrendous outcome of their merger with M&T Bank. It’s not like the banks didn’t have enough time to plan the merger. M&T Bank completed...
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Problems for M&T/People’s Bank Merger Escalate as Connecticut Attorney...
The uproar on social media and complaints filed with regulatory agencies about the M&T/People’s merger fiasco has been so loud that the Attorney General for the State of Connecticut has become...
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