Bank failure · PA

Metropolitan Savings Bank (Pittsburgh, PA) — failed February 2, 2007

Metropolitan Savings Bank of Pittsburgh, Pennsylvania was closed on February 2, 2007 and resolved through a purchase and assumption (insured deposits). Allegheny Valley Bank of Pittsburgh (PA) took over its insured deposits. At failure it held $15.8M in assets and $14.5M in deposits. The FDIC's estimated loss on the failure is $9.4M (59.9% of assets).