First Choice Community Bank, Dallas, Georgia, Fails

First Choice Community Bank of Georgia, became the nation’s 37th banking failure.  According to the FDIC press release, the failed bank will be sold to Bank of the Ozarks. Bank of the Ozarks, Little Rock, Arkansas, acquired the banking operations, including all the deposits, of two Georgia-based banks. To protect depositors, the Federal Deposit Insurance […]

Regulators Close Five Banks – Total Losses To FDIC Top $3 Billion

Last week had no bank closings due to the holiday weekend.  Regulators returned to work today, closing five insolvent banks in Florida, Georgia and Michigan.  A total of 39 banks have now failed during 2011. Although the banking industry has recovered from the dark days of the financial crisis due to unprecedented government aid, the […]