Regulators order sale of TierOne

TierOne Corp., Nebraska’s third largest locally owned bank, has been ordered to sell to a new owner by May 31, 2010.

The company’s 69 offices in Nebraska, Iowa and Kansas are to remain open during that time period.

TierOne has 36 offices in Nebraska, including one in Albion. Other area TierOne banks are located in Columbus, Norfolk, Burwell, Ord and St. Paul.

TierOne customers are protected by the Federal Deposit Insurance Corp., which generally insures accounts up to $250,000 each. If the company cannot find a buyer by the deadline, the FDIC could take over and find a buyer to operate it.

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