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Another Early Start For Friday's Bank Failures

Friday, February 4, 2011 - 3:14 PM
The FDIC has started early this week with a closure in Georgia. From the FDIC press release:
American Trust Bank, Roswell, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Mississippi, to assume all of the deposits of American Trust Bank.

I'll have more details of this closure and any additional closures that occur later today in my bank failure summary post tonight.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708