06/05/2009 05:12 am ET | Updated May 25, 2011

Private Equity Firms Look To Take Over Banks

CAINSVILLE, Mo. -- No one seems to want to own a business in this dusty, windswept corner of rural America, population 370, with its crumbling sidewalks and boarded-up storefronts.

Except, that is, for J. Christopher Flowers, a media-shy New York billionaire who last year bought the First National Bank of Cainesville, one of the United States' smallest national banks.

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