Friday, July 15, 2011

Bank Failure #52 & 53 in 2011: Two More in Georgia

by Calculated Risk on 7/15/2011 04:19:00 PM

Sweltering peaches.
Two more tumble off the tree
A bitter harvest

by Soylent Green is People

From the FDIC: Ameris Bank, Moultrie, Georgia, Acquires All the Deposits of Two Georgia Institutions: High Trust Bank, Stockbridge and One Georgia Bank, Atlanta
As of March 31, 2011, High Trust Bank had total assets of $192.5 million and total deposits of $189.5 million; and One Georgia Bank had total assets of $186.3 million and total deposits of $162.1 million.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for High Trust Bank will be $66.0 million and for One Georgia Bank, $44.4 million. ...The closings are the 52nd and 53rd FDIC-insured institutions to fail in the nation so far this year and the fifteenth and sixteenth in Georgia.