Updated: Sunday, 30 Jan 2011, 5:57 PM MST
Published : Sunday, 30 Jan 2011, 4:50 PM MST
ALBUQUERQUE (KRQE) - New Mexico’s First Community Bank will start its first week under new owners Monday.
The Taos based company shut down more than three dozen branches Friday with the FDIC taking immediate control.
Monday they will all open up as branches of U.S. Bank, but it will take a while for the locations to assume the new name.
First Community had issues with federal regulators over whether it could cover non-performing mortgages and other losses.
The purchase of First Community Marks the entrance of U.S. Bank into New Mexico.
It is the fifth largest commercial bank in the United States.