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February 22, 2010 at 07:00 PM
Mutual of Omaha Bank has taken over a Florida bank that failed Friday.
The Florida Office of Financial Regulation declared the bank, Marco Community Bank, Marco Island, Fla., to be insolvent, and it named the Federal Deposit Insurance Corp. as the receiver.
Mutual of Omaha Bank, part of Mutual of Omaha Insurance Company, Omaha, Neb., says it has taken over all of Marco Community Bank’s deposits and loans.
The assumed obligations include those that exceed the FDIC insurance limit, Mutual of Omaha Bank says.
Mutual of Omaha Bank has assumed about $120 million in assets and about $117 million in deposits.
