Posted on 09/19/2008 5:40:07 PM PDT by RKBA Democrat
The Federal Deposit Insurance Corporation said in a statement late in the day that deposits at Ameribank's Ohio branches have been transferred to the Citizens Savings Bank, and Ameribank's three Ohio branches will reopen Saturday as Citizens Savings Bank branches.
(Excerpt) Read more at marketwatch.com ...
I think it’s against the law to close during the week.
Of possible relvance to West Virginia Freepers:
“All deposit accounts in West Virginia branches have been transferred to Pioneer Community Bank, Inc., based in Iaeger, WV. All former Ameribank, Inc. offices in West Virginia will reopen for normal business hours on Monday as branches of Pioneer Community Bank, Inc. at the former Ameribank, Inc. branch locations. “
ping
Ugh on the bank closure. This is a tiny community bank ($115 Million) in the mountains of southern West Virginia, so I am curious as to why it failed. Did the local economy go sour and customers default on loans, or did the bank try to conduct excessively risky business outside of the local marketplace?
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