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Banking

Michigan bank is year's 96th failure

October 03, 2009|Times Wire Reports

Regulators have shut down Warren Bank in Warren, Mich., the 96th U.S. bank failure this year as loan defaults rise in the worst recession in decades.

The Federal Deposit Insurance Corp. took over Warren Bank, with about $538 million in assets and $501 million in deposits as of July 31.

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