Mulberry, Ark.-based Allied Bank, the subsidiary of Acme Holding Co. Inc., was closed by the Arkansas State Banking Department on Sept. 23.
All of its deposits and essentially all of its assets were purchased by Springdale, Ark.-based Mathias Bancshares Inc. unit Huntsville, Ark.-based Today's Bank ($116.0 million).
In recent months, Allied Bank had been deemed "critically undercapitalized" by regulators and received a prompt corrective action directive. It is the fifth bank to fail
RelSci News & Alerts gets you: