February 6, 2009 – 7:22 pm
The FDIC closed three banks after the market closed today, making County Bank, Merced, CA, the tenth closure this year.
The U.S. Federal Deposit Insurance Corp said on Friday County Bank of Merced, California, was closed by the California Department of Financial Institutions, and FDIC was named as receiver.
The FDIC said County Bank had $1.7 billion in assets and $1.3 billion in deposits. Westamerica Bank of San Rafael, California, will assume all of the deposits of the failed bank.
For more information go to the official FDIC web page.
<>
