23rd US Bank Fails: Georgia Community Bank Seized

Friday, December 5, 2008 21:24
Posted in category Bank Failures, Federal Reserve, Money
1 Comment

What Friday would be complete without a bank failure?

State regulators i closed First Georgia Community Bank on Friday, marking the 23rd bank failure of the year.

The Federal Deposit Insurance Corp. said that the four branches of the Jackson, Ga.-based First Georgia Community Bank will reopen on Saturday as part of United Bank, of Zebulon, Ga.

First Georgia Community Bank had total assets of $237.5 million and total deposits of $197.4 million.

The FDIC estimates that the cost of Friday’s action to the Deposit Insurance Fund will be $72.2 million.

Related posts:

  1. FDIC Breaks February Record; 5 Banks Fail Over Weekend
  2. Bank Failures at 40 for the Year; FDIC Seizes 3 More
  3. Obama has succumbed to bank scare-mongering – Joseph Stiglitz
  4. Bank No. 37 Closed; Bank of Lincolnwood Seized by Regulators
  5. Failure Fridays: Omni National Bank Shut Down

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One Response to “23rd US Bank Fails: Georgia Community Bank Seized”

  1. Alice says:

    December 18th, 2009 at 2:22 pm

    Hiya!. Thanks a bunch for the info. I’ve been digging around for info, but i think i’m getting lost!. Google lead me here – good for you i guess! Keep up the great information. I will be popping back over in a couple of days to see if there is any more info.

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