Buy custom Analysis of the Failure of Superior Bank and Trust
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 607 |
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Closure wasn't to far away. If the company's capital didn't improve within 90 days Superior Bank & Trust would be closed.
At the time of closing Superior had $42.9 million potentially uninsured deposits held by nearly 1,000 depositors. Because of this the FDIC will contact customers with uninsured deposits an have them make appointments with an FDIC claims agent...
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Because of this the FDIC will contact customers with uninsured deposits an have them make appointments with an FDIC claims agent. The FDIC will give a $1.5 billion line of credit to a new Superior and sustain continued business operations.
Superior Bank and Trust failed due to the errors on the part of financial intermediaries, its management, and owners...
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