Bank Failure #7 of 2010: Charter Bank, Santa Fe, New Mexico

From the FDIC

the FDIC entered into a purchase and assumption agreement with Charter Bank, Albuquerque, New Mexico, a newly-chartered federal savings bank and a subsidiary of Beal Financial Corporation, Plano, Texas, to assume all of the deposits of Charter Bank.

This is the Charter Bank that had been offering the nationwide reward checking account. A few months ago the rate had plummeted. This explains why the rate fell.