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Missouri, Nevada banks shuttered

April 18, 2009

Banks in Missouri and Nevada have been closed by regulators, marking the 24th and 25th U.S. banks to fail so far in 2009, officials said.

The Federal Deposit Insurance Corp. Friday closed American Sterling Bank of Sugar Creek, Mo., CNN reported, while Nevada banking officials announced they had declared Great Basin Bank of Elko, Nev., insolvent and named the FDIC as receiver.

Metcalf Bank of Lee’s Summit, Mo., will assume the deposits of American Sterling Bank, which affects branches in Missouri, California and Arizona, the U.S. broadcaster said, adding that Metcalf Bank will buy roughly $173.6 million in American Sterling Bank’s assets.

Nevada State Bank of Las Vegas, meanwhile, says it has agreed to acquire the banking operations of Great Basin Bank. Great Basin operated five branches, all in northern Nevada. The transaction includes approximately $220 million of deposits and $238 million of assets, including the loan portfolio of Great Basin Bank.


Source: upi



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