P.M. BRIEFING : U.S. Closes Bank in Houston
City National Bank of Houston, one of the last banks spawned in the ‘80s era of free-flowing bank charters in Houston, has been closed by federal regulators and its deposits have been sold to Charter National Bank-Colonial.
The Thursday closure was the 72nd bank insolvency in Texas this year, and the 120th in the United States.
Charter will operate City National’s two locations as branches, Charter Chairman Jerry Finger said. City National depositors can continue to conduct business during normal hours at the locations without interruption, he said.
But officials said borrowers should check the status of their accounts because Charter will purchase only part of City National’s loans.
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