U.S. Bancorp (USB) announced that, effective immediately, its lead bank, U.S. Bank National Association, has acquired the banking operations of BankEast, a subsidiary of BankEast Corporation, from the Federal Deposit Insurance Corporation or FDIC. BankEast is based in Knoxville, TN.
U.S. Bank will receive approximately $272 million of assets and assume $268 million of insured and uninsured deposits of BankEast.
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