The Federal Deposit Insurance Corporation (FDIC) has shut Florida-based LandMark Bank and Southshore Community Bank, The Wall Street Journal reports. The banks will be acquired by Tampa-based American Momentum Bank as part of a purchase and assumption deal with the FDIC. Greeley-based Bank of Choice has been seized by Colorado’s Division of Banking, with Kansas City-based Bank Midwest taking over 17 units. An estimated $256.3 million has been accounted as failure to the Deposit Insurance Fund. The banks’ depositors will now become depositors of the new banks. FDIC will insure the deposits.
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