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Keyword: ohiosavings

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  • AmTrust Bank fails, bought by New York bank (AmTrust was formerly Ohio savings)

    12/05/2009 6:40:35 AM PST · by Las Vegas Dave · 13 replies · 1,056+ views
    cleveland.com ^ | Dec. 4, 2009 | various
    CLEVELAND, Ohio -- AmTrust Bank, which opened with one office on Valentine's Day 120 years ago and grew to one of the nation's 100 largest banks, was seized by federal regulators Friday and bought by New York Community Bank of Westbury, N.Y. AmTrust is the first Northeast Ohio bank to fail since TransOhio Federal Savings Bank of Cleveland was seized 17 years ago. AmTrust, the latest calamity in the nation's 2-year-old banking crisis, became the 128th bank to fail this year, and the second in Ohio. Six banks in all failed Friday, bringing the year's total to 130. With assets...