Business

Regulators Shut LibertyPointe Bank in NYC

The Associated Press
Regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession. The Federal Deposit Insurance Corp. took over LibertyPointe, with three branches, $209.7 million in assets and $209.5 million in deposits. The bank catered largely to the Orthodox Jewish community in Manhattan and Brooklyn. Valley National Bank, based in Wayne, N.J., agreed to assume the assets and deposits of LibertyPointe Bank.
Click Here For The Full Story......

Posted by Editor at March 13, 2010 02:30 AM