fails: 2 More Georgia Banks Fail!
- 01/29/10 11:37 AM
A while ago, I signed up on the FDIC website to receive notifications of press releases as they occur. We've had so many bank failures in GA I thought it a wise thing to do. This evening we have has two sets of banks fail in GA. One had 11 branches and the other had over 36 branches. So this is not a small event. The cumulative FDIC bank failure list for Georgia now stands at 32 banks failed. 1.) According to an FDIC press release this evening, the First National Bank of Georgia, located in Carrollton, GA, was closed this … (26 comments)
fails: Georgia Bank Failures - United Security Bank, Sparta, GA Fails
- 11/07/09 02:05 PM
United Security Bank, Sparta, GA failed this weekend. United Security Bank had $157 million in assets and $150 million in deposits and two branches, one branch operatedas the including the branch in Woodstock, GA that operated as Bank of Woodstock. The bank, of Moultrie, Ga., assumed the assets and deposits of the failed bank. United Security Bank failure is expected to cost the FDIC fund an estimated $58 million. The failure of United Security Bank makes the 21st Georgia bank failure this year>Gerogia has had more bank failures than in any other state.The FDIC press release: "On Friday, November 6, 2009, United Security … (14 comments)
fails: Another GA Bank Fails │American United Bank of Lawrenceville, GA Fails
- 10/23/09 10:34 AM
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 … (6 comments)
fails: Another Georgia Bank Fails in Stockbridge, GA
- 03/21/09 02:25 PM
The Federal Deposit Insurance Corporation (FDIC) took over another Georgia Bank this weekend! This is the 20th bank to close this year and the eight GA bank to fail in the last 7 months! The FirstCity Bank of Stockbridge, Georgia was one of three banks shut down by hte FDIC this weekend. The FDIC took over FirstCity Bank of Stockbridge, Georgia. The bank was closed Friday by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. The FDIC was not able to secure a buyer for the bank. Account holders with amounts over the insured account limits of $250,000 need to contact the FDIC … (14 comments)
fails: Surprize! Another Bank Failure in North Atlanta - Haven Trust Bank in Duluth Georgia Fails
- 12/12/08 11:26 AM
It seems bank failures are getting to be a regular occurrence here in North Atlanta. This is getting old. Haven Trust Bank of Duluth, Georgia, was closed this evening by the Georgia by the Georgia Department of Banking and Finance that gave receivership to the Federal Deposit Insurance Corp. which then sold it to BB&T Corp. of Winston - Salem, North Carolina to protect depositors. Haven Trust Bank will reopen four offices northeast of Atlanta on Dec. 15 as branches of BB&T. This makes the 25th bank failure this year in the US. In just a little over a year 5 of the failed … (2 comments)
A while ago, I signed up on the FDIC website to receive notifications of press releases as they occur. We've had so many bank failures in GA I thought it a wise thing to do. This evening we have has two sets of banks fail in GA. One had 11 branches and the other had over 36 branches. So this is not a small event. The cumulative FDIC bank failure list for Georgia now stands at 32 banks failed.
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