Sunday, March 12, 2017

Self-Help FCU Buys Branches and Deposits of Failed Seaway Bank & Trust

The remnants of failed Seaway Bank & Trust, which was acquired by Dallas, Texas-based State Bank of Texas in January from the Federal Deposit Insurance Corporation, is being sold to Self-Help Federal Credit Union (Durham, NC).

State Bank of Texas is selling Seaway's branches and deposits to the North Carolina-based credit union.

State Bank of Texas will continue to hold and manage Seaway's existing loans and will operate the foreign-exchange concessions at O'Hare and Midway airports.

Read the story.

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