Georgia continues to lead the nation in bank failures.
Regulators seized and sold two more struggling metro Atlanta banks late Friday — the 15th and 16th failures in Georgia this year, AJC writer Scott Trubey reports.
Stockbridge-based High Trust Bank and Atlanta-based One Georgia Bank were seized and sold to Ameris Bank of Moultrie, Trubey writes. The banks will reopen under the new flag during normal business hours, the Federal Deposit Insurance Corp. said.
Georgia leads the nation with 67 failures since mid-2008, Trubey reports.
High Trust had total assets of $192.5 million and deposits of $189.5 million, and One Georgia had total assets of $186.3 million and deposits of $162.1 million, according to the latest FDIC data.
The regulator estimates the failures will result in a $110.4 million combined loss to its insurance fund, which protects depositors, Trubey writes.
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In other media:
– Henry Unger, The Biz Beat
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