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Regulators Shut Down Franklin Bank In Texas

POSTED: Saturday, November 8, 2008 - 7:47pm

UPDATED: Wednesday, March 17, 2010 - 11:59am

HOUSTON - Regulators have shut down Houston-based Franklin Bank, which marks the 18th failure this year of a federally insured bank.

The Federal Deposit Insurance Corporation has now been appointed to be the receiver of Franklin Bank.

The bank had over five billion in assets and more than three billion in deposits.

All Franklin Bank customers will continue to have full access to their deposits, which will continue to be insured by the FDIC.

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