BANKING & FINANCE - July 12, 1991
From Times Staff and Wire Reports
Bidding for Ailing Banks Will Begin: The Federal Deposit Insurance Corp. said it will accept bids for New Hampshire’s five largest banks through Sept. 3. The institutions are struggling under a heavy load of overdue loans and foreclosed real estate because of New England’s slumping economy. A spokesman for the FDIC, which guarantees deposits up to $100,000, said the agency already has “eight parties with a serious interest” in buying the banks.
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