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11/29/2020

Liberty Pulse

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Three banks shut down; toll for year at 30

1 min read

Three banks shut down; toll for year at 30

Regulators closed three banks in the Eastern United States on Friday, one in New York, one in Florida and one in Louisiana.

The institutions that failed were Park Avenue Bank in New York City, Old Southern Bank in Orlando and Statewide Bank in Covington, La. In all three cases, the Federal Deposit Insurance Corp. was appointed receiver, and arranged for other banks to take over the branches, deposits and assets…

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