BancTexas Group will be assisted by the FDIC.
The Federal Deposit Insurance Corp. said it will give BankTexas of Dallas, the 11th-biggest bank holding company in Texas, $150 million as part of a financial rescue plan. “This gives them some money to keep the doors open,” said bank analyst Sandra Flannigan with Paine Webber. She added that the FDIC’s involvement usually averts a bank failure. The FDIC said the money is needed to enhance BancTexas’s capital reserves and reserves for loan losses.
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