Posted: Sep 13, 2013 6:40 PM
Updated: Sep 13, 2013 6:50 PM
WASHINGTON (AP) - Regulators have closed banks in Texas and Connecticut, bringing the number of U.S. bank failures to 22 this year.
The Federal Deposit Insurance Corp. said Friday it has taken over First National Bank, based in Edinburg, Texas, and The Community's Bank, based in Bridgeport, Conn.
First National had about $3.1 billion in assets and $2.3 billion in deposits as of June 30.
PlainsCapital Bank, based in Dallas, agreed to assume all the deposits and buy about $2.7 billion of First National's assets.
A release from the FDIC says all 51 branches of First National will reopen as branches of PlainsCapitalBank and all depositiors will automatically become customers of that bank.
The FDIC says customers can continue to write checks and use debit cards on their accounts.
The Community's Bank had about $26.3 million in assets and $25.7 million in deposits as of June 30.
The failure of the two lenders is expected to cost the deposit insurance fund $645.3 million combined.
Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.
Send us your feedback. We want to hear from you!
Look at photos and videos and share them!
|KRISTV.COM Mobile Website
Get KRISTV.com on your mobile or PDA!
|KRISTV.COM Mobile Apps
Get our mobile apps on your mobile or PDA!
See the latest winning numbers!
|6 News Team
Read about your favorite KRIS-TV personalities!
|FCC Online Public File
FCC Public File of Records, Reports, and more