BANKING
New Hampshire Banks Seized: Squads of federal accountants closed more than 100 bank offices across New Hampshire in what is expected to be the seventh-largest federal bank rescue in recent history. The branches, belonging to seven banks, will reopen this morning under new ownership. A separate federal agency seized an eighth bank, Gilford-based HomeBank, which will reopen under federal receivership. The banks’ combined bad loans totaled just under $1 billion, less than analysts expected. All seven banks, with combined assets of about $4.7 billion, roughly one-quarter of New Hampshire’s bank assets, were insolvent or nearly so after becoming overextended during the mid-1980s real estate boom.
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