Behind the Rapid Fall of ANB Financial

Late last Friday, the Office of the Comptroller of the Currency announced the closing of ANB Financial NA, of Bentonville, Ark.

In its announcement, the OCC noted that ANB Financial, with $1.9 billion in total assets, was undercapitalized and that its "unsafe and unsound practices also weakened the bank's condition and seriously prejudiced the interests of the bank's depositors and the deposit insurance fund."

This was the third bank closing this year, and the largest since NetBank was shut down in September 2007. ...