Hope ribit wasn't effected by this. clo
Regulators Shut 2 Ga Banks; 42 Shuttered in 2011
By THE ASSOCIATED PRESS
Published: May 20, 2011 at 6:13 PM ET
WASHINGTON (AP) — Regulators have shut down two banks in Georgia, lifting to 42 the number of U.S. bank failures this year in the wake of a gutted economy and mounds of soured loans.
The Federal Deposit Insurance Corp. seized Atlantic Southern Bank, based in Macon, with $741.9 million in assets, and First Georgia Banking Co., based in Franklin, with $731 million in assets. CertusBank, based in Easley, S.C., agreed to assume the assets and deposits of the failed banks.
The failures of Atlantic Southern Bank and First Georgia Banking Co. are expected to cost the deposit insurance fund $273.5 million and $156.5 million, respectively.
NYTimes.com
DO SOMETHING!
| 