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Friday, February 24, 2012

Bank Failure #10 in 2012: Central Bank of Georgia, Ellaville, Georgia

by Calculated Risk on 2/24/2012 05:10:00 PM

Assets to ashes
Feds in Georgia discover
Deposits to dust

by Soylent Green is People

From the FDIC: Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of Central Bank of Georgia, Ellaville, Georgia
As of December 31, 2011, Central Bank of Georgia had approximately $278.9 million in total assets and $266.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $67.5 million. ... Central Bank of Georgia is the tenth FDIC-insured institution to fail in the nation this year, and the second in Georgia.
Here is a "central bank" that failed ...