A single branch of M&T Bank Corp. will disperse various accounts for customers of a small Baltimore bank closed July 9 by the Office of Thrift Supervision, an M&T Bank spokesperson said Monday.

Customers of Ideal Federal Savings Bank will be able to receive their funds at M&T's branch at 715 N. Howard St. through July 24. M&T, which has been provided account information and liquidated deposits for Ideal customers, will pay out insured deposit accounts, savings accounts and certificates of deposit to customers who come to the branch.

M&T spokesperson C. Michael Zabel said the transaction is straightforward.

"We are not acquiring the bank (and) we are not acquiring the deposits or assets or loans," he said. "It's really simply assisting the (Federal Insurance Deposit Corp.) to disperse the funds and assisting the customers of Ideal."

In March, Ideal was ordered by federal bank regulators to raise capital, which it planned to do with the help of investors. It had $6.3 million in assets as of March 31.

It is one of four banks closed July 9, bringing total bank failures in the nation to 90 so far this year. USA Bank in Port Chester, near White Plains, also closed.

Zabel said M&T will manage approximately 800 Ideal accounts.