Bank Failure Friday: Regulators Shut Down American National Bank Of Parma

WASHINGTON (AP) — Regulators have shut down a small bank in Ohio, boosting to 31 the number of bank failures in the U.S. so far this year.

The Federal Deposit Insurance Corp. on Friday took over American National Bank of Parma, Ohio, with $70.3 million in assets and $66.8 million in deposits. National Bank and Trust Co., based in Wilmington, Ohio, agreed to assume the assets and deposits of the one-branch bank.

In addition, the FDIC and National Bank and Trust Co. agreed to share losses on $49.8 million of American National Bank’s loans and other assets.

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