Guaranty Bank Failure

August 21, 2009 6:23:11 PM PDT
Federal regulators are right now inside local Guaranty Bank branches, overseeing the failed banks takeover by another company.The Texas based bank has nearly 750 million dollars in bad debt, prompting the failure.

It's one of the largest bank failures in U.S. history.

The 162 Guaranty Bank branches, including four in the Central Valley, will re-open Saturday as branches of BBVA Compass, which is based in Birmingham, Alabama.

The FDIC says customers will have access to their money throughout this transition process.

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