The bank failures are starting early today. Here's the first for the day, the 19th in the nation for this year and 5th this year in Georgia. FDIC press release
Habersham Bank, Clarkesville, 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 SCBT National Association, Orangeburg, South Carolina, to assume all of the deposits of Habersham Bank.
I'll have more on this failure, this week's credit union liquidation and all additional failures that may happen later in my blog post bank failure summary tonight.