Real estate losses bring down Dallas bank (Fort Worth Star-Telegram)
Dallas-based Millennium State Bank, suffering $47 million in bad commercial real estate loans, was closed Thursday by the Texas Department of Banking. The bank will reopen Monday as a branch of State Bank of Texas, where automatically transferred deposits will continue to be insured by the Federal Deposit Insurance Corp., said FDIC spokesman David Barr. “Essentially, the bank experienced …
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