It's Friday, so naturally that means that another bank has gone......

[marmar]

.......:nuke:

Georgia bank closed in 17th failure of 2009
By John Letzing

SAN FRANCISCO (MarketWatch) -- Commerce, Ga.-based Freedom Bank of Georgia was closed by regulators Friday, marking the 17th bank failure of the year, the Federal Deposit Insurance Corporation said in a statement. Lavonia-based Northeast Georgia Bank has assumed all of the failed bank's deposits, the FDIC said. As of March 4, Freedom Bank of Georgia had roughly $173 million in assets and $161 million in deposits. The FDIC estimated the cost of Freedom Bank's failure to its deposit insurance fund will be $36.2 million.


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