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ING Bank to acquire NetBank deposits

Fri Sep 28, 2007 4:08pm EDT

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NEW YORK, Sept 28 (Reuters) - ING Direct, an online banking arm of Dutch banking group ING Groep, (ING.AS) (ING.N) said it plans to acquire $1.4 billion in deposits and 104,000 customers from failed Internet bank NetBank Inc for $14 million.

Mergers & Acquisitions  |  Bonds

The U.S. Office of Thrift Supervision said on Friday it closed NetBank and appointed the Federal Deposit Insurance Corp as receiver.

ING Direct has $57 billion in deposits, $23 billion in mortgage loans and $75 billion of assets.

(Reporting by Dan Wilchins)

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