Written by admin on July 24, 2009 – 5:14 pm
Guaranty Bank Fails
Another bank failure to report. Guaranty Bank or GFG filed an 8-K with the SEC which states they can no longer continue. With that shocking statement, Guaranty Bank has consented to be seized by the FDIC. According to reports, Guaranty Bank core capital is at a negative 5.7%. Guaranty Bank will be the largest bank to fail in 2009.
Guaranty Bank operates under:
GFG
Guaranty Financial Group
Guaranty Bank
Guaranty Financial
Guaranty Bank is based in Austin, Texas. The banks problems are a result of the mortgage crises. Remember, customers of Guaranty Bank deposits are insured by the FDIC up to the FDIC limits. Go to –FDIC Temporary Changes to view the current FDIC limits in place.
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