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Ameribank closed by regulators

September 20, 2008|From Bloomberg News

Ameribank Inc. of Northfork, W. Va., was closed by regulators Friday, as the deepening housing slump and soured real estate loans claimed a 12th bank this year.

Ameribank, with $115 million in assets and $102 million in deposits, was shut by the Office of Thrift Supervision; the Federal Deposit Insurance Corp. was named the receiver.

Pioneer Community Bank Inc. and the Citizens Savings Bank will assume the deposits from Ameribank. The failed bank's five West Virginia offices will reopen Monday and its Ohio branches will open today.

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