Regulators Seize Three Banks, One CU

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WASHINGTON – Regulators took over three banks and one credit union Friday, with the banks sold off to other institutions.

The three bank seizures were: $1.1 billion Bank of Choice in Greeley, Colo.; $275 million LandMark Bank of Florida in Sarasota; and, $46 million SouthShore Community Bank in Apollo Beach, Fla.

All three banks had failed, making a total of 58 failures so far this year.

State credit union regulators took over Saguache County CU, a one-time $24 million credit union in Moffat, Colo., and assigned NCUA as conservator. With less than 1% net worth the credit union is considered to have failed.

 

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