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Quarter's biggest banking news. (First Quarter Report: Banking)
Quarter's biggest banking news
Fulton Federal Savings Bank was taken over by the Resolution Trust Corp. After losing more than $57 million last year, the bank needed more than $107 million in order to comply with federal capital requirements. Georgia Credit Union Deposit Insurance Corp. announced plans to voluntarily cease to provide Georgia Credit Union with insurance, passing the indemnity duties to the federal government. Its 98 member institutions were asked to convert to the National Credit Union Share Insurance Fund. Prime Bancshares Inc., the Decatur holding company of Prime Bank FSB, announced its acquisition of First Colony Bank from First Colony Bancshares. NCNB …
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