US regulators close small lender in Ohio - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

US regulators close small lender in Ohio

Columbia Savings Bank at 411 Ludlow Ave. in Clifton. Dave Smith/FOX19 Columbia Savings Bank at 411 Ludlow Ave. in Clifton. Dave Smith/FOX19

WASHINGTON (AP) - Regulators have closed a small lender in Ohio, marking the eighth U.S. bank failure of 2014 after 24 closures last year.
    
The Federal Deposit Insurance Corp. said Friday that it has taken over Cincinnati-based Columbia Savings Bank.
    
The lender, which operated a single branch, had about $36.5 million in assets and $29.5 million in deposits as of March 31.
    
United Fidelity Bank, based in Evansville, Indiana, has agreed to assume Columbia Savings' deposits and to buy essentially all of the failed bank's assets.
    
Columbia Savings' failure is expected to cost the deposit insurance fund $5.3 million.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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