CROFTON, Md. -- The feds seized a Maryland bank Friday evening, the Washington Post reported.
Suburban Federal Savings Bank in Crofton, which has seven branches, was sold to Bank of Essex, with all deposits protected, the Post reported.
The bank had been warned about seizure if it did not find a buyer.
It was the first D.C.-area bank failure since City National Bank of Washington in 1993.
