The Real Deal Miami

Figure in historic bank flop foreclosed upon

September 18, 2009 11:42AM

Roy Talmo, the man at the center of the collapse of First American Bank & Trust Co. of Lake Worth 20 years ago, is back in the spotlight over finances. In August, OneWest Bank filed a foreclosure action against Talmo in Palm Beach County Circuit Court over late payments for his Boynton Beach home. The suit said he owes $958,000 on a 2003 loan. First American collapsed in 1989 after poor management and bad real estate loans.