Miami — Federal regulators are poring over the records of a Miami-based commercial bank that the government shut down for being financially unstable.
Hamilton Bank, with some $1.3 billion in assets and $1.2 billion in deposits, was closed by federal regulators Friday evening. The regulators cited concern over the financial soundness of the bank, which specialized in financing trade deals among companies in the United States, Latin America and the Caribbean.
Six branches of the bank, with about half the insured deposits, were closed permanently by the Office of the Comptroller of the Currency, which oversees nationally chartered banks.
The Federal Deposit Insurance Corp. was appointed as the bank's receiver.
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