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Article: Fort Worth bank buys deposits of failed American. (Central Bank and Trust buys American Bank of Haltom City, Texas, deposits) (Brief Article)
- Article from:
- American Banker
- Article date:
- February 9, 1993
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- Central Bank and Trust Co., Fort Worth, has assumed the insured deposits of American Bank of Haltom City, Tex., the Federal Deposit Insurance Corp. announced.
American Bank, which had $97 million in assets, was closed Feb. 5 by the Texas bank regulator.
The FDIC, as receiver of American, said Central would assume about $95.1 million in about 18,400 deposit accounts. Central agreed to pay a premium of $2.5 million, or 2.6%, for the right to receive the deposits, and will purchase $57.7 million of the failed bank's assets.
Above $100,000 Limit
When American Bank closed, about $801,000 in 34 accounts exceeded the federal ...