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Federal Deposit Insurance Corporation
Troubled NBRS Financial Bank is closed by state regulators
Troubled NBRS Financial Bank is closed by state regulators

State regulators closed NBRS Financial Bank late Friday and announced that Ellicott City-based Howard Bank assumed the independent community bank's deposits and purchased most of its loans and assets. Gordon M. Cooley, Maryland's acting commissioner of financial regulation, took control of the Rising Sun-based and state-chartered bank at 6 p.m. and appointed the Federal Deposit Insurance Corp. as receiver. NBRS Financial is the 15th FDIC-insured U.S. bank to fail this year and the second in Maryland, according to the FDIC. Slavie Federal Savings Bank, based in Bel Air, was closed May 30. The FDIC estimated the closure of NRBS will cost the deposit insurance fund about $24.3...

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