News Journal

10th U.S. bank fails in the year

The 10th U.S. bank that failed in the year is Integrity Bank of Alpharetta, Ga. and the bank announced closing on Friday. The bank’s basic business is of real estate lending and Regions Bank of Birmingham, Ala., has taken the Integrity Bank’s insured and uninsured deposits.

A total of 23,000 accounts, $974 million of deposits and assets of value $34.4 million have been taken by the Regions Bank .Integrity bank was opened in November 2000 and it business grew when housing sector was booming.