http://www.banktech.com/news/showArticle.jhtml?articleID=219401165&cid=RSSfeed_TechWeb
WASHINGTON, Aug. 22 (UPI) -- Troubled Texas lender Guaranty Bank has been sold to a Spanish bank after the U.S. government agreed to absorb about $3 billion of its losses, officials say.
Under the deal, announced Friday by the Federal Deposit Insurance Corp., regulators took over the bank, based in Austin, Texas, then brokered its sale to the American subsidiary of Banco Bilbao Vizcaya Argentaria in one of the largest-ever government-assisted deals with a foreign firm, The New York Times reported.
