NEW YORK (AP) - Regulators have shut down Park Avenue Bank in New York, marking the 28th failure this year of a federally insured bank.
The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank. It had $520.1 million in assets and $494.5 million in deposits as of Dec. 31.
The FDIC said Friday the bank's deposits will be assumed by Valley National Bank, based in Wayne, N.J. Its four branches will reopen beginning Saturday as offices of Valley National Bank.
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Regulators shut down Park Avenue Bank in New York
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Alabama's13.com
Published: March 13, 2010
Published: March 13, 2010
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