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First Community Bank closed by New Mexico Financial Institutions Division

Monday 31 January 2011 10:29 CET | News

US financial institution First Community Bank has been recently closed by the New Mexico Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. FDIC is an independent agency of the US federal government.

As a result, US financial services provider First State Bancorporation is no longer the parent company of First Community Bank. In addition, US financial services provider the US Bank National Association has assumed the bank’s operations and all of the deposits and has purchased the bank’s assets in a loss-share transaction facilitated by the FDIC.

However, First Community Bank is expected to continue providing its customers with its banking services, including cheque clearing, ATM access and online banking access.


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Keywords: First Community Bank, New Mexico Financial Institutions Division
Categories: Payments & Commerce
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Countries: World
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