ATLANTA – NetBank, one of the first Internet-only banks, was taken over by the FDIC Friday in the biggest bank failure in 14 years. The failure of the $2.5 billion bank was related to the institution’s efforts to diversify into subprime mortgage lending, which saddled it with a large portfolio of poor loans. IN recent months NetBank shut down its subprime mortgage unit and sold its mortgage servicing portfolio. A deal to sell the remaining assets to EverBank Financial Corp. fell through two weeks ago. The FDIC said Friday Ever Bank has agreed to buy $700 million of NetBank’s mortgages and ING Group is buying $1.5 billion of NetBank’s deposits.
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