New York Bank Seized, Sold: Government regulators...
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From Times Staff and Wire Reports
New York Bank Seized, Sold: Government regulators seized Goldome Savings Bank of Buffalo, N.Y., and swiftly sold it to two New York banks. The failure is expected to cost the FDIC insurance fund $930 million, while the two banks are expected to put up as much as $180 million in new capital. The FDIC said it approved the transfer of Goldome’s deposits to Key Bank of Western New York, a unit of Albany, N.Y.-based KeyCorp. Key Bank will sell some of Goldome’s branches and assets to First Empire State Corp. of Buffalo.
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