Nine banks have failed in Georgia since the start of this year; 14 within the past year. The latest are Community Bank of West Georgia and Neighborhood Community Bank of Newnan, both in suburban Atlanta.
Community Bank of West Georgia held nearly $200 million in assets and $182 million in deposits. No one was willing to buy the bank. The Federal Deposit Insurance Corporation says it will soon mail checks to indidvidual account holders, who are federally insured up to a quarter million dollars.
CharterBank of West Point, Georgia is taking control of the more than more than two hundred twenty million dollars in assets of Neighborhood Community Bank.
Community Bank of West Georgia held nearly $200 million in assets and $182 million in deposits. No one was willing to buy the bank. The Federal Deposit Insurance Corporation says it will soon mail checks to indidvidual account holders, who are federally insured up to a quarter million dollars.
CharterBank of West Point, Georgia is taking control of the more than more than two hundred twenty million dollars in assets of Neighborhood Community Bank.
(Associated Press)
