NetBank is the biggest failure since the June 1993 failure of Western FSB in California. One business had $900K in deposits over the FDIC insured limit at NetBank. But all is not lost. They may be...
I just read an article on this site that NetBank had shut down. I never thought their rates were that good. Here's another article that provides a bit more insight.
NetBank's stock is now worth $.08 as the company has lost big money on its loan portfolio. Everbank was supposed to buy them but the deal is off - lucky for Everbank.
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