FDIC SAYS INDIANA BANK BECOMES 48TH TO FAIL
The Federal Deposit Insurance Corp
said state banking regulators closed the Morocco State Bank in
Morrocco, Indiana, bringing the total number of banks to fail
so far this year to 48.
    The failed bank's 14.1 mln dlrs in deposits and 9.9 mln
dlrs of its loans and other assets will be assumed by DeMotte
State Bank in DeMotte, Ind, the FDIC said.
    The FDIC said it will advance 3.7 mln dlrs to help the
transaction and would retain 5.1 mln dlrs in the failed banks
assets.
 Reuter
