silverton bank
May 1st, 2009
The FDIC said it has created a bridge bank, to be called Silverton Bridge Bank, N.A., to allow the client banks to maintain their correspondent banking relationship with the least amount of disruption. The FDIC will operate Silverton US banking regulators seized Silverton Bank of Atlanta on Friday, a bank that provided services to other banks, the biggest bank failure so far this year. Silverton Bank had approximately 1400 client banks in 44 states, and operated six regional offices. The FDIC estimates that the cost to the Deposit Insurance Fund will be $1.3 billion. Silverton Bank is the 30th bank to fail in the