Security Bank Could Be in Trouble

Macon-based Security Bank is facing major losses, raising concerns about the bank's ability to stay afloat.
Security bank is the fourth largest bank in Georgia. Last year the bank, which was heavily invested in the metro-Atlanta real estate market, lost more than 200-million dollars.
This week the bank filed an audit with the Securities and Exchange Commission that says they may be unable to meet their 2009 financial obligations. Bank officials, however, disagree with the audit's findings and say they're not facing imminent closure.
Security Bank applied for bailout funds from the U.S. Treasury, but has not received any money. In the meantime the bank says it will seek investors and try to sell some offices.