FDIC Takes Over Omni National Bank

Omni National Bank of Atlanta, with $980 million in assets, was seized by federal regulators. The Office of the Comptroller of the Currency (OCC) on Friday made the announcement, saying the bank had “experienced substantial dissipation of assets and earnings” because of “unsafe and unsound” practices. Atlanta-based Omni is the 21st U.S. bank to fail this year.