FDIC shuts failed bank in Georgia
WASHINGTON -- Regulators have shut down First Georgia Community Bank, the 23rd U.S. bank failure this year.
The Federal Deposit Insurance Corp. has been appointed receiver of the bank, located in Jackson, Ga. It had $237.5 million in assets and $197.4 million in deposits as of Nov. 7.
The FDIC says all the failed bank's deposits will be assumed by United Bank of Zebulon, Ga. Its four branches, in Jackson, Covington, Griffin and Locust Grove, will reopen Saturday as offices of United Bank. United Bank also will buy about $60.6 million of First Georgia Community Bank's assets.
The agency says depositors of First Georgia Community will continue to have full access to their deposits.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.