Chicago’s ShoreBank fails, is bought by investors – Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. It had struggled for months to raise sufficient funds to stay afloat.Its deposits and most [...]
WASHINGTON, May 21 (Reuters) – A one-branch bank in St. Paul, Minnesota, on Friday became the 73rd U.S. bank to fail so far this year. Pinehurst Bank, which had about $61 million in assets and 18 employees, advertised itself as having “genuine neighborhood banking.” It is just one of hundreds of small banks that are [...]
Historic City News business reporters learned today of three local area bank failures according to announcements received from the Federal Deposit Insurance Corporation and the assumptor, TD Bank. In the assumption agreement, certain assets and liabilities of Riverside National Bank of Florida, First Federal Bank of North Florida and AmericanFirst Bank have been acquired from [...]
The former president of a small business bank in New York closed by regulators on Friday has been arrested and charged with engaging in a variety of schemes to defraud the bank and its regulators, including the U.S. government’s Troubled Asset Relief Program.
Old Southern Bank was closed late Friday by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corp. as receiver.
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