FDIC Closes Utah’s MagnetBank

Since  downfall of economy in 2007, officials have seized approximately 25 banks. In 2006, only 3 banks had been closed. Now, in January, only a month into 2009, MagnetBank of Utah is 4th bank to see its  taken over by Federal Deposit Corp (FDIC).With a total of over $282 million in deposits, and assets reaching over $292 million, MagnetBank had no buyers.Among  2008 FDCI seized banks, Washington Mutual based in Seattle, was forced to close sever

More: continued here

Tags: , , , , ,

Related posts


Leave a Reply