The Conservative Cave
Current Events => Economics => Topic started by: Chris_ on July 26, 2008, 10:03:59 PM
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FDIC takes over 2 more banks, closing 28 branches (http://apnews.myway.com/article/20080726/D925G0B00.html)
CARSON CITY, Nev. (AP) - The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators.
The banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.
The FDIC said the takeover of the failed banks was the least costly resolution and all depositors - including those with funds in excess of FDIC insurance limits - will switch to Mutual of Omaha with "the full amount of their deposits."
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