Five Bank Failures Bring Year’s Total To 38 – FDIC Losses Top $1.9 Billion

Regulators had a busy week closing five banks in four different states on Friday.  Although bank failures have been proceeding at a slower pace than last year, the total losses to the FDIC Deposit Insurance Fund now top $1.9 billion and the number of problem banks remains very high considering that we are four years […]

First Cherokee State Bank, GA, Closed By Regulators

Georgia, which had the most bank failures of any state during 2011, looks like it may retain this dubious record for 2012.  Regulators closed two banks in Georgia today, bringing the year to date total of bank failures in the State to eight, representing 22% of bank failures this year.  During 2011, Georgia accounted for […]