Another Alabama bank fails, taken over - WSFA.com Montgomery Alabama news.

Another Alabama bank fails, taken over

MONTGOMERY, Ala. (AP) - Regulators shut down First Lowndes Bank of Fort Deposit on Friday and announced that First Citizens Bank of Luverne is acquiring the bank.

The state Banking Department announced the takeover in conjunction with the Federal Deposit Insurance Corp.

State law allows the action when a bank's capital is impaired or if an examination of the bank indicates it is operating in an unsound condition.

Besides its main office, First Lowndes Bank operated branches in Hayneville, Highland Home and Greenville.

The Banking Department said all deposit accounts of First Lowndes Bank have been transferred to First Citizens Bank and are available immediately.

First Lowndes Bank is one of 37 bank failures in the United States this year.

Recently failed Alabama banking institutions include the 2009 failure of Montgomery-based Colonial Bank, one of the largest bank failures in U.S. history. That bank had nearly $25 billion in assets when it was told to BB&T in August.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

  • NewsMore>>

  • A CDC ban on 'fetus' and 'transgender?' Experts alarmed

    A CDC ban on 'fetus' and 'transgender?' Experts alarmed

    Saturday, December 16 2017 7:49 PM EST2017-12-17 00:49:07 GMT
    Sunday, December 17 2017 8:40 AM EST2017-12-17 13:40:35 GMT

    Health leaders say they are alarmed about reports that officials at the nation's top public health agency are being told not to use certain words in official budget documents, including "fetus," and "transgender.".

    More >>

    Health leaders say they are alarmed about reports that officials at the nation's top public health agency are being told not to use certain words in official budget documents, including "fetus," and "transgender.".

    More >>
  • Trump defends tax plan, proclaims economy set 'to rock'

    Trump defends tax plan, proclaims economy set 'to rock'

    Saturday, December 16 2017 3:16 AM EST2017-12-16 08:16:02 GMT
    Sunday, December 17 2017 8:40 AM EST2017-12-17 13:40:20 GMT
    (AP Photo/J. Scott Applewhite). House Ways and Means Committee Chairman Kevin Brady, R-Texas, is pursued by reporters in the Capitol after signing the conference committee report to advance the GOP tax bill, in Washington, Friday, Dec. 15, 2017.(AP Photo/J. Scott Applewhite). House Ways and Means Committee Chairman Kevin Brady, R-Texas, is pursued by reporters in the Capitol after signing the conference committee report to advance the GOP tax bill, in Washington, Friday, Dec. 15, 2017.

    Republicans working to execute their first major legislative achievement of Donald Trump's presidency appear to have secured the votes to pass a massive tax overhaul that Trump hoped to present to Americans. 

    More >>

    Republicans working to execute their first major legislative achievement of Donald Trump's presidency appear to have secured the votes to pass a massive tax overhaul that Trump hoped to present to the American people for Christmas.

    More >>
  • After Alabama, abortion may be backseat issue in 2018 races

    After Alabama, abortion may be backseat issue in 2018 races

    Saturday, December 16 2017 12:06 PM EST2017-12-16 17:06:09 GMT
    Sunday, December 17 2017 8:40 AM EST2017-12-17 13:40:15 GMT

    Both Democratic and Republican operatives say abortion may take a backseat to other issues in 2018 now that conservative Alabama has elected a Democrat who supports abortion rights.

    More >>

    Both Democratic and Republican operatives say abortion may take a backseat to other issues in 2018 now that conservative Alabama has elected a Democrat who supports abortion rights.

    More >>
Powered by Frankly