Fed Closes Four Banks Across the Country

On Friday Federal regulators seized four bank in California, Illinois,Texas and Florida.

Rancho Santa Fe based La Jolla Bank was shut down by federal regulators.  La Jolla bank  had 10 branches in California Texas and New York. THe bank had  $3.6 billion in Assets and $2.8 in deposits.

Pasadena based OneWest Bank former IndyMac purchased La Jolla Bank. On Monday La Jolla will reopen as OneWest.

AP via Yahoo News has the rest of the Story

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