KETR Local
6:46 am
Mon August 24, 2009

Texas' Guaranty Bank third largest in nation to fail in '09


– Federal regulators on Friday officially shut down Austin-based Guaranty Bank, the third largest failure of a U.S. bank this year and the 81st overall in 2009.

The Federal Deposit Insurance Corp. was appointed receiver.

Guaranty is the second-largest publicly traded bank in Texas, with about $16 billion in assets, according to its website. Guaranty's closest locations include McKinney, Garland, Richardson and Kaufman.

The bank is in no way related to Mt. Pleasant-based Guaranty Bond Bank, which currently serves eight counties in Northeast Texas with 12 banking center locations, including ones in Commerce, Sulphur Springs and Paris.