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State regulators closed Nova Bank in Berwyn, Pennsylvania today, bringing the nationwide tally...

Oct. 26, 2012 8:18 PM ETBy: David Yelle, SA News Editor7 Comments
State regulators closed Nova Bank in Berwyn, Pennsylvania today, bringing the nationwide tally of bank failures to 47 for the year. Nova had about $483M in total assets and $432.2M in deposits. The FDIC was was appointed as receiver, but was unable to find another bank to take over Nova's banking operations, saying it will mail checks directly to Nova's depositors for the amount of their insured money. The total cost to the FDIC Insurance Fund: $91.2M.

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