On Friday, the New Jersey Department of Banking and Insurance closed ISN Bank, headquartered in Cherry Hill, New Jersey, and appointed the FDIC as receiver for the bank.
USA, New Jersey, Banking, Insolvency & Restructuring, Alston & Bird LLP, Share (finance), Federal Deposit Insurance Corporation (USA)
On Friday, Washington Mutual Inc. (WMI), the holding company that owned Washington Mutual Bank (WMB), filed a disclosure statement and amended reorganization plan with the U.S.
USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Share (finance), Debtor, Security (finance), Option (finance), Mortgage loan, Liability (financial accounting), Reinsurance, Liquidation, Holding company, Subsidiary, Preferred stock, Federal Deposit Insurance Corporation (USA), JPMorgan Chase, United States bankruptcy court, US District Court for District of Delaware
On Friday, the Minnesota Department of Commerce closed Pinehurst Bank, headquartered in Saint Paul, Minnesota. As receiver, the FDIC entered into a purchase agreement with Coulee Bank, headquartered in LaCrosse, Wisconsin, to assume all of the deposits of Pinehurst Bank.
USA, Minnesota, Banking, Insolvency & Restructuring, Alston & Bird LLP, US Department of Commerce, Federal Deposit Insurance Corporation (USA)