Guaranty Bank was a part of the Texas based Guaranty Financial Group Inc (NYSE: GFG). Headquartered in Austin, Texas, Guaranty offered a full range of banking products to individuals and institutions. At its peak, the bank had $13 billion in assets and $12 billion in deposits. However, Guaranty Bank was a thrift, meaning that it was heavily involved in the mortgage industry. The bank suffered huge losses during the subprime mortgage crisis, and on June 30, 2009, Guaranty failed and the Federal Deposit Insurance Corporation (FDIC) helped facilitate its sale to BBVA Compass, the US division of Banco Bilbao Vizcaya Argentaria (BBVA), Spain's 2nd largest bank. Guaranty Bank is the 10th largest bank failure in the history of the United States.
Today, BBVA Compass offers former Guaranty Bank customers the same service and high quality financial products that Guaranty once offered. On the personal banking side, this includes certificates of deposit (CDs), savings accounts, and money market accounts. BBVA is also a mortgage lender, offering fixed, adjustable rate, and VA mortgage loans. You can view BBVA mortgage rates on the company's website.
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