Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Missouri bank failure is first of 2008
WASHINGTON (1/28/08)—Federal regulators late Friday closed the $58.5 million-asset Douglass National Bank of Kansas City, Mo.—this year’s first bank failure. The Federal Deposit Insurance Corp. (FDIC) approved the assumption of the failed institution’s deposits by Liberty Bank and Trust Company of New Orleans, La. In addition to assuming all of the failed bank’s $53.8 million in deposits, the FDIC said Liberty Bank and Trust will purchase approximately $55.7 million of Douglass National's assets at book value, less a discount of $6.1 million. The FDIC will retain approximately $2.8 million in assets for later disposition. The regulator estimated that the cost to its Deposit Insurance Fund is approximately $5.6 million. Three FDIC-insured institutions failed during 2007.


RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
2 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
3 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
3 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
4 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
6 hours ago