BRIEF: Edinburg bank had other bidders

Source: San Antonio Express-NewsOct.mini storage 05--Dallas' PlainsCapital Bank had some competition in the bidding for First National Bank of Edinburg.The Federal Deposit Insurance Corp. revealed on its website that Compass Bank of Birmingham, Ala., and Mercantil CommerceBank NA of Coral Gables, Fla., were the other bidders for First National.First National was shut down Sept. 13 by federal banking regulators and sold to winning bidder PlainsCapital. The Dallas bank purchased at book value about $2.6 billion of F迷你倉rst National's assets and assumed $2.4 billion in liabilities. The FDIC retained about $400 million of First National's assets for disposition at a later date.The FDIC estimated the closure would cost its Deposit Insurance Fund $637.5 million.PlainsCapital assumed ownership of First National's 51 Texas-based branches, including four in San Antonio.Copyright: ___ (c)2013 the San Antonio Express-News Visit the San Antonio Express-News at .mysanantonio.com Distributed by MCT Information Services文件倉