Florida’s First Priority Bank became the eighth U.S. bank to fail this year, as federal regulators took over late Friday. Sun Trust agreed to take on First Priority customers’ deposits, and all First Priority locations will open today as Sun Trust branches. First Priority was small, with assets of $259 million and total deposits of $227 million as of June. (MarketWatch)
The bottom line
August 4, 2008
Try 4 Risk-Free Issues of The Week magazine.
of The Week magazine.