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TagsPress Release
Home Bank, Lafayette, Louisiana, Assumes All of the Deposits of Statewide Bank, Covington, Louisiana
| FOR IMMEDIATE RELEASE
March 12, 2010 |
Media Contact:
David Barr Office: (202) 898-6992 Cell: (703) 622-4790 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
Statewide Bank, Covington, Louisiana, was closed today by the Louisiana Office of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Home Bank, Lafayette, Louisiana, to assume all of the deposits of Statewide Bank.
The six branches of Statewide Bank will reopen on Saturday as branches of Home Bank. Depositors of Statewide Bank will automatically become depositors of Home Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking
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FDIC Acquisitions Policy Manual