Quote:
Originally Posted by River
So when a bank goes under, and you have cash and loans with them, do you lose the cash and keep the loan?
|
Generally a new bank buys them out, and you keep your loans and your cash... its just with a new bank.
It happened here when Liberty Bank bought out MidSouth Bank, I kept my checking account and all the money, just got a new bank name on my checks.
It's essentially the same thing regardless of why the bank is bought out.