U.S. Bank National Association, Cincinnati, Ohio, Assumes All of the Deposits of BankEast, Knoxville, Tennessee
Press Release U.S. Bank National Association, Cincinnati, Ohio, Assumes All of the Deposits of BankEast, Knoxville, Tennessee FOR IMMEDIATE RELEASE January 27, 2012 Media Contact: Greg Hernandez (202) 898-6984 Cell: (202) 340-4922 Email: ghernandez@fdic.gov BankEast, Knoxville, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank National Association, Cincinnati, Ohio, to assume all of the deposits of BankEast. The ten branches of BankEast will reopen on Monday as branches of U.S. Bank National Association. Depositors of BankEast will automatically become…(read more)
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