According to a report by Financial Times, prospective buyers for Guaranty Financial Group (GFG) were asked by banking regulators to submit their bids by today. GFG is the holding company for Austin, TX based Guaranty Bank -- reported to be the nation's third largest warehouse lender at the end of March 2009 by National Mortgage News. With $16 billion in assets it would be the second largest bank failure this year behind Colonial Bank.

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