Regulators shut small Rosedale bank
by Associated Press
Published: June 4,2010
WASHINGTON — Regulators have shut down a small bank in Mississippi, boosting the number of U.S. bank failures this year to 79.
The Federal Deposit Insurance Corp. on Friday took over First National Bank, based in Rosedale with $60.4 million in assets. Jefferson Bank, based in Fayette, Miss., agreed to acquire the assets and deposits of the failed bank.
In addition, the FDIC and Jefferson Bank agreed to share losses on $43.5 million of First National Bank’s loans and other assets.
The failure of First National Bank is expected to cost the deposit insurance fund $12.6 million.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Family launches Billups Coffee with headquarters in Oxford
- Chris McDaniel responds to radio show audio clip
- ‘Just the beginning’ — Venture Technologies merging, acquiring companies
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Man indicted, accused of bankruptcy fraud
- Study: Mississippi has highest sales tax rate in U.S.
- Chaney drops lawsuit against National Flood Insurance Program
- Grenada native Donna Tartt wins Pulitzer Prize for 'The Goldfinch'
- Fight between county, insurer over courthouse fire continues
- Judge to rule on release of Kemper power plant data