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AUSTIN, Texas — Bank-holding company Guaranty Financial Group Inc. said it is “probable it will not be able to continue as a going concern” amid restated results that include an additional $1.45 billion in write-downs.
The moves, disclosed in a securities filing Thursday, set the stage for the Federal Deposit Insurance Corp. to take over operations of the Austin, Texas, company, including more than 160 branches in Texas and California.
