ANB Financial closed; third bank failure of year

SAN FRANCISCO (MarketWatch) — ANB Financial N.A. of Bentonville, Ark., was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation was named receiver, the FDIC said late Friday. This marks the third bank failure of the year. FDIC’s board approved the assumption of the insured deposits of ANB Financial by Pulaski Bank and Trust Co. in Little Rock, Ark. The regional bank’s nine offices will reopen Monday as branches of Pulaski Bank. ANB had about $2.1 billion in assets and $1.8 billion in total deposits as of Jan. 31, according to the FDIC. Pulaski Bank will assume $212.9 million of ANB’s insured nonbrokered deposits for a premium of 1.011% and will purchase $235.9 million of assets.
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Original post by Forextvblog

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