Pennsylvania-based Customers 1st Bank has acquired a failed bank in New York, which serves the Greenwich region, with assistance from the Federal Deposit Insurance Corp., the agency said Friday evening, the Philadelphia Business Journal reports.
USA Bank of Port Chester, N.Y., which serves Greenwich, was closed Friday by the New York State Banking Department, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with Customers 1st, the new brand name for New Century Bank, to assume all of USA Bank’s deposits.
The sole branch of USA Bank will reopen on Saturday as a branch of Customers 1st.
