Regulators Shut Banks in NY, Florida, Louisiana
Written By Stephen Bernard
March 15th, 2010
Regulators on Friday shut down banks in New York, Florida and Louisiana, raising to 30 the number of failures this year of federally insured banks.
The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank in New York, Old Southern Bank in Orlando, Fla. and Statewide Bank in Covington, La.
Park Avenue Bank had $520.1 million in assets and $494.5 million in deposits as of Dec. 31.