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Regulators Seize United Western Bank and Three Others
Federal regulators took control of United Western Bank over the weekend after losses in 2009 and 2010 left the Denver-based bank ""undercapitalized and in an unsafe and unsound condition to transact business,"" according to the Office of Thrift Supervision. The institution's parent company called the seizure premature and indicated that the move will likely push it into bankruptcy. Three other smaller lenders were also shut down in Georgia, South Carolina, and North Carolina.
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