Four More Banks Fail

Register now

WASHINGTON – Regulators shuttered four banks Friday, making a total of seven failures so far this year.

United Western Bank, a $2.1 billion Denver institution, was the largest failure. Its assets were assigned to First-Citizens Bank & Trust Company of Raleigh, N.C., in a purchase and assumption deal.

The other failures were: $440 million CommunitySouth Bank and Trust of Easley, S.C.; $195 million Bank of Asheville (N.C.); and, $100 million Enterprise Banking Company of McDonough, Ga.

The four failures are estimated to cost the FDIC $455 million to resolve.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER