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Another GA Bank Fails │American United Bank of Lawrenceville, GA Fails

American United Bank of Lawrenceville, GA was closed this evening making it the 101st US bank failure of 2009 and the 20th in GA bank to fail this year. Georgia leads the nation in Bank failures, and 2009 marks the most bank failures seen in the US since 1992. American United Bank of Lawrenceville, GA - was taken over by Ameris Bank of Moultrie, GA which under a loss-share agreement with the FDIC assumed its $111 million in assets and $102 million in deposits. The loss share covers approximately $92 million of the failed bank's assets. The FDIC expects a loss of to its Deposit Insurance Fund of $44 million.

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 10/23/2009 05:34 PM

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Lawrenceville GA Bank Fails in the ActiveRain Channel

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Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: Another GA Bank Fails │American United Bank of Lawrenceville, GA Fails

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6 Comments on Another GA Bank Fails │American United Bank of Lawrenceville, GA Fails

OCT

Hi Jim, I was waiting for my Market Watch tol rfeport this news but you beat them to it. Georgia has surely suffered more than its share of financial stress. If you get a chance, maybe you wouldn't mind sharing what has happened in Georgia thaqt has caused this to happen?

Hi Jim..Are there any Banks Left GA.

Lets hope that's the Last and it's over.

Jim...just read this on my Yahoo page.....amazing!

I chatted with a VP in a bank today (remain nameless) and she said they are having a tough time and are looking for investors. But till that happens, they spend no monies on sponsorships or any type of community things!

Let's hope everyone has enough fingernails to hang on!

Guy Thomas (WR Starkey Mortgage) Georgia is a big state for speculation. For years we led the nation in mortgage fraud and then foreclosures before they were fashionable. The problem with GA is that they build homes here without buyers, and wait for them to come. We also led the nation with no money down financing, and easy credit. There is a big price to pay for this...and that is what we are witnessing now.

Victoria Oak Bay Realtor Fred Carver 250-598-2963 for Victoria Oak Bay Homes (Re/Max Camosun Oak Bay & Surrounding Area Real Estate) No, there are many more to come. There are quite a few on a watch list.

The Thom And Ray Team Midtown Atlanta Real Estate You are so right. Most Georgians do not realize with the banks in Atlanta in trouble a lot more will be lost soon. It is collateral damage. Public funding, the arts, and community sponsorships will disappear.

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