WASHINGTON NBRS FInancial in Rising Sun, Md., has become the second institution in the state to fail this year.
The $188.2 million-asset bank was seized Friday by state regulators and its $183.1 million in deposits was sold to Howard Bank in Ellicot City. Howard Bank agreed to acquire all of NBRS FInancial's remaining assets.
The failure is estimated to cost the Deposit Insurance Fund $24.3 million. This is the 15th bank to fail this year.