banking crisis

Guaranty Bank seized by Feds, sold off to Spanish firm

Large Texas bank shut down by federal regulators

Large Texas bank saddled with toxic assets fails and US helps Spanish company take it over

MARCY GORDON
AP News

Aug 22, 2009 04:19 EST

Guaranty Bank became the second-largest U.S. bank to fail this year after the Texas lender was shut down by regulators and most of its operations sold at a loss of billions of dollars for the U.S. government to a major Spanish bank.