WAITING FOR THAT GUARANTY BANK FAILURE It’s sure looking like the 27 Houston branches of Austin’s Guaranty Bank, the second-largest publicly traded bank in Texas, are headed for an FDIC takeover — or maybe something more fun. “The company believes that it is probable that it will not be able to continue as a going concern,” the bank’s parent company noted in a recent regulatory filing. “Industry insiders have mentioned as many as four regional U.S. banks, including an undisclosed bank based in Houston, as being at the ready to scoop up Guaranty assets if the bank fails.” [Houston Business Journal]
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http://www.calculatedriskblog.com/2009/07/guaranty-financial-probably-not-be-able.html
There’s a woman-of-size getting ready for the aria.
And here we thought the economy was gettting better. Apparently it is. For the larger banks that will begin to gobble up the smaller banks.
Wasn’t there another Guaranty that got in trouble or went under during the S&L disaster? Is this the same Guaranty? I think that one was Guaranty Savings and Loan.
I’m betting Amegy assumes deposits of the Texas side of Guaranty and their affiliate California Bank and Trust will get the CA side.