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01/22/2021

Liberty Pulse

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Four banks seized, including one TARP recipient

1 min read

Four banks seized, including one TARP recipient

Regulators shut down four banks in the eastern half of the United States on Friday, including Midwest Bank and Trust Co., a Chicago-area institution with nearly $3.2 billion in assets.

The other closed banks were Satilla Community Bank, of St. Mary’s, Ga.; New Liberty Bank, of Plymouth, Mich.; and Southwest Community Bank, of Springfield, Mo.

Their failures brought the total for the year to 72, with the possibility of more closings in the Western states later tonight.

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