Federal regulators shut down five banks in...
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Federal regulators shut down five banks in Texas and Louisiana, bringing the total number of U.S. bank failures this year to 178. The Federal Deposit Insurance Corp., the federal bank regulator which insures depositors for up to $100,000, said the banks closed in Texas included BancFirst-Austin and Heritage National Bank, both of Austin, and First National Bank in Rhome. In Louisiana the closed banks included Louisiana Bank & Trust Co. in Crowley and American Bank in Louisiana of Morgan City. The FDIC said all the failed banks’ offices will reopen today as branches of the acquiring banks.
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