Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Missouri bank failure is first of 2008
WASHINGTON (1/28/08)—Federal regulators late Friday closed the $58.5 million-asset Douglass National Bank of Kansas City, Mo.—this year’s first bank failure. The Federal Deposit Insurance Corp. (FDIC) approved the assumption of the failed institution’s deposits by Liberty Bank and Trust Company of New Orleans, La. In addition to assuming all of the failed bank’s $53.8 million in deposits, the FDIC said Liberty Bank and Trust will purchase approximately $55.7 million of Douglass National's assets at book value, less a discount of $6.1 million. The FDIC will retain approximately $2.8 million in assets for later disposition. The regulator estimated that the cost to its Deposit Insurance Fund is approximately $5.6 million. Three FDIC-insured institutions failed during 2007.


RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
6 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
14 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
15 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
18 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
18 hours ago