Nova Bank Is No Longer

118th-ranked NOVA Bank of Berwyn, Pennsylvania was closed today by the FDIC. Unlike most closings, no acquirer could be found to acquire the approximately $483.0 million in total assets and $432.2 million in total deposits of the former bank. As a result, The FDIC will act as receiver and will retain all the assets from NOVA Bank for later disposition. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $91.2 million.