As the nation's recession continues, another Georgia bank has failed. The First Georgia Community Bank in Jackson becomes the fourth bank in the state seized by federal and state regulators this year. It's the 23rd in the nation. The Federal Deposit Insurance Corp. said Friday it entered a purchase and assumption agreement with Zebulon-based United Bank. Under the deal, United Bank which will take over First Georgia's deposits of $197.4 million. First Georgia has branch banks in Jackson, Covington, Griffin and Locust Grove, all of which become United Bank branches. The agency says depositors of First Georgia Community will continue to have full access to their deposits.
(Associated Press)
(Associated Press)
