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Posted: 11:17 PM Jun 30, 2009
Texas-Based Bank Seeks Federal Bailout
Guaranty Bank, the fourth-largest independent banking institution in the nation, has announced it would fail if it did not receive assistance from the Federal Deposit Insurance Corp. Reporter: KWTX/KBTXEmail Address: news@kbtx.com |
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20 Comments 
Guaranty Bank, the fourth-largest independent banking institution in the nation, has announced it would fail if it did not receive assistance from the Federal Deposit Insurance Corp.
The announcement, reported on the Business Journal Website, came in a regulatory filing Monday by Guaranty’s parent company, Austin-based Guaranty Financial Group Inc.
The bank has branches located in California and Texas, including in Bryan, College Station and Navasota.
Guaranty has asked the FDIC to absorb a portion of the bank's losses while private investors provide a "significant equity capital infusion," the Business Journal reported.
Officials at Guaranty say the FDIC has, on rare occasions, done such, but only when it was the least costly way to resolve the issue.
If Guaranty Bank fails, it would be the largest financial institution to do so this year.
According to the Guaranty Website, the financial chain has more than 150 locations.
Latest Comments
I have banked at Guaranty Bank for years and i don't understand how they are needing help; because they won't even let you borrow anything from the
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21 cents per share !!!!!!!!!!!!!!!!!!!!!!!!
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What if you paid $75,000 for a top of the line car, something occurred in the economy that reduced the value of that car to $7500? Is this a reflection on your integrity? NO. Folks this is about poor economic conditions which result in 'devaluation' of assets held. Look at your 401k. YOU ONLY LOSE IF YOU SELL. BUT, in business...you must account for your assets on a balance sheet. We all know what California & Arizona Real Estate look like on a balance sheet, right? I have banked at Guaranty before they were Guaranty. They are good people, good bank who just happen to have 'devaluated' property. I will continue to bank there until they lock me out. I wouldn't go any where else.
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