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FDIC: Assets of Alabama-based minority institutions fall nearly six percent from 2011

150px-US-FDIC-Logo.svgRecent data from the FDIC revealed that the combined assets of minority depository institutions in Alabama fell by nearly six percent last year from 2011.

First Tuskegee Bank reported $60.6 million in assets in the fourth quarter of last year, a decrease from $67.2 million over the same period in the previous year, Birmingham Business Journal reports.

Commonwealth National Bank based in Mobile posted $36.6 million in assets in the fourth quarter, an increase from $33.5 million in the fourth quarter of 2011.

Minority depository institutions nationwide posted $179.8 billion in assets in the fourth quarter, a decrease from $182.5 billion in assets the previous year, according to Birmingham Business Journal.

The FDIC defines a minority depository institution as a federally insured depository institution in which at least 51 percent of the voting stock is owned by minorities.

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