The Park Avenue Bank of Georgia Closed By Regulators

Banking failure hit the State of Georgia today with the failure of The Park Avenue Bank of Valdosta, Georgia.  According to the FDIC, the failed bank will be sold to Bank of the Ozarks which has previously purchased five other failed banks. Bank of the Ozarks, Little Rock, Arkansas, acquired the banking operations, including all […]

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 […]