Friday, September 28, 2007

FDIC: Netbank Fails

by Bill McBride on 9/28/2007 04:58:00 PM

From the FDIC: FDIC Approves The Assumption of The Insured Deposits of Netbank, Alpharetta, Georgia (hat tip Red Pill)

On September 28, 2007, NetBank, Alpharetta, Georgia was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
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NetBank, with $2.5 billion in total assets and $2.3 billion in total deposits as of June 30 ...