Guaranty Bank, a deeply troubled Texas lender, was sold on Friday to Banco Bilbao Vizcaya Argentaria of Spain in one of the largest government-assisted deals offered to a foreign firm. Federal regulators seized Guaranty Bank and simultaneously brokered the
sale of its branches as well as most of the deposits and assets to BBVA
Compass, the Spanish bank’s American subsidiary. The government,
however, agreed to absorb most of the losses on $9.7 billion, or more
than 80 percent, of the Guaranty assets included in the deal.
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