1 Bank Closed Sept. 30

74 Banks, 18 CUs Failed so Far in 2011
1 Bank Closed Sept. 30
One bank was closed by state and federal banking regulators on Friday, Sept. 30. This failure brings the year's tally to 92 failed institutions.

The latest failure:

First International Bank, Plano, Texas

First International Bank, Plano, Texas, was closed by the Texas Department of Banking, which appointed the Federal Deposit Insurance Corp. as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with American First National Bank, Houston, to assume all of the deposits of First International Bank.

As of June 30, First International Bank had approximately $239.9 million in total assets and $208.8 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $53.8 million.


About the Author

Information Security Media Group

Information Security Media Group (ISMG) is the world's largest media company devoted to information security and risk management. Each of its 37 media sites provides relevant education, research and news that is specifically tailored to key vertical sectors including banking, healthcare and the public sector; geographies from North America to Southeast Asia; and topics such as data breach prevention, cyber risk assessment and fraud. Its yearly global summit series connects senior security professionals with industry thought leaders to find actionable solutions for pressing cybersecurity challenges.




Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing inforisktoday.in, you agree to our use of cookies.