Federal banking regulators closed Central National Bank...
Federal banking regulators closed Central National Bank after four years of efforts to save the ailing New York bank failed, the office of the Comptroller of the Currency announced. The bank, which had assets of about $181 million, failed because of imprudent lending practices and poor supervision of its loan portfolio by management and the directors, the comptroller’s office said. The Federal Deposit Insurance Corp. is attempting to get another bank to take over Central National’s assets.
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