U.S. REGULATOR CLOSES BANKS IN TEXAS, LOUISIANA
The Federal Deposit Insurance Corp
(FDIC) said three troubled banks in Texas and Louisiana were
merged with healthy financial institutions.
    The FDIC said it subsidized the merger of Central Bank and
Trust Co, Glenmora, La., with the healthy Peoples Bank and
Trust Co, Natchitoches, La., after state regulators notified it
that Central was in danger of failing.
    Central had assets of 28.3 mln dlrs.
    The FDIC said the deposits of the failed Farmers State
Bank, Hart, Tex., were assumed by Hale County State Bank,
Plainview, Tex.
    Farmers, with 9.6 mln dlrs in assets, was closed by Texas
bank regulators.
    The deposits of the failed First National Bank of Crosby,
Crosby, Tex., with total assets of 8.2 mln dlrs, were assumed
by Central Bancshares of the South Inc, Birmingham, Ala., after
First National was closed by federal bank regulators, the FDIC
said.
    The number of federally insured banks to fail so far this
year now totals 32, the FDIC said.
 Reuter
