OCC Closes $1 Billion, Milwaukee-Based Bank
Guaranty Bank was a $1 billion institution that had 119 branches in five states, most of which were in retail outlets. The deposits were assumed by First-Citizens Bank & Trust Company of Raleigh, North Carolina. It's the fifth bank failure of the year, following by only one week the failure of First NBC Bank, a $5 billion bank. That number matches the total number of banks that failed in 2016. [5/8/17]


