John Poirier
Reuters
July 26, 2008

WASHINGTON, July 25 (Reuters) – U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch.

Two weeks after the Federal Deposit Insurance Corp seized IndyMac Bancorp Inc (IDMC.PK: Quote, Profile, Research, Stock Buzz), the Office of the Comptroller of the Currency said it closed First National Bank of Nevada and First Heritage Bank NA of California.

First National, characterized as undercapitalized, had total assets of $3.4 billion and $3 billion in deposits. First Heritage, described as critically undercapitalized, had assets of $254 million and $233 million in deposits, regulators said.

Read article

9/11 Chronicles Part One: Truth Rising Get the DVD and make copies or watch the high quality streaming and download version online at Prison Planet.tv. Click here to read more about the film and view sample trailers.

The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!