On Friday, federal regulators closed Ameribank, a very small Northfork, West Virginia-based bank. Two other banks in the region have assumed all of Ameribank’s assets, meaning it appears that all bank deposits (including those over $100,000, which usually aren’t covered by the FDIC) will be honored.
I’m glad depositors will get all their money, but hopefully they’ve learned a life lesson as well: don’t keep your money in a bank with seven branches (I checked the Ameribank web site).
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