Federal regulators close Maimi-based bank, fifth bank failure of 2010
January 23rd, 2010 - 6:33 am ICT by BNO NewsSAINT STEPHEN, MINNESOTA (BNO NEWS) — Federal regulators on Friday closed the Premier American Bank in Miami, marking the fifth U.S. bank failure of 2010 following an economic turbulent year that saw more than one hundred U.S. banks fail.
The Premier American Bank was closed by the Florida Office of Financial Regulation after its regular closing time on Friday. The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver following its closure, who immediately entered into a purchase and assumption agreement with the Premier American Bank, National Association, a newly-chartered national institution, to assume all of the failed bank’s deposits.
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