MW: CapitalSouth Bank, Ala. 80th bank failure of 2009
By Benjamin Pimentel
SAN FRANCISCO (MarketWatch) - CapitalSouth Bank of Birmingham, Ala. became the 80th bank failure of 2009 after it was closed by the Alabama State Banking Dept. which appointed the Federal Deposit Insurance Corp. as receiver, the federal agency said Friday. The FDIC said it has entered into "a purchase and assumption agreement with Iberiabank, Lafayette, La. to assume all of the deposits of CapitalSouth Bank, excluding those from brokers."
