Guaranty Bank & Trust in Milwaukee was shut down by federal regulators Friday, just a week after the Federal Deposit Insurance Corp. handled one of the costliest failures since the financial crisis.

First-Citizens Bank & Trust, a $33.8 billion-asset unit of First Citizens BancShares in Raleigh, N.C., has agreed to assume all deposits of Guaranty, a nationally chartered bank. In addition, First-Citizens will purchase $892.6 million of Guaranty’s $1 billion in assets.

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