Failures

The acquirer of the failed Milwaukee bank passed on assuming control of 107 in-store locations, but drawing a sweeping conclusion about the state of in-store banking from one story is difficult.

The bank is the second failure in Illinois so far in 2017. Seaway Bank was closed in late January.

Readers sound off on the use of AI in underwriting, the reasons for the failure of a Milwaukee bank, U.S. banks’ progress in adopting APIs, and more.

The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.

The top executives at Guaranty Bank said that, after years of struggles, the $1 billion-asset bank was a month or two away from raising the capital it needed to survive.

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

As Treasury Department officials review the Financial Stability Oversight Council’s designation process, they should also re-examine how the Dodd-Frank Act defines systemic risk.

Entegra Financial disclosed that it held First NBC subordinated debt. An impairment charge tied to the bank's failure will lower Entegra's first-quarter profit by $441,000.

Christy Romero, the special inspector general for the Troubled Asset Relief Program, and two other government entities were involved in a probe that led Lamar Cox, former chief operating officer at Tennessee Commerce Bank, to plead guilty to misleading the FDIC.

The number of U.S. banks has fallen by 24% since the end of 2010, a result of mergers, failures and a dearth of de novo activity. Here are the 10 states with the biggest declines as a percentage of total banks headquartered in the state, according to Federal Deposit Insurance Corp. data.

Gulf Winds FCU immediatley assumed the failed credit union's members and deposits.

Cache Valley Bank in Utah agreed to buy Proficio's deposits and most of its assets.

The failure of Seaway Bank, once the nation's biggest black-owned bank, cost the FDIC $57.2 million.