Wednesday, 14 March 2012

Failed Banks

52-53 - Ameris Bank, Moultrie, Ga, has acquired the banking operations, including all the deposits, of High Trust Bank, Stockbridge, Ga., and One Georgia Bank, Atlanta. The two banks were closed July 15 by state regulators. The FDIC and Ameris Bank entered into loss-share transactions on the failed banks' assets. The loss-share transaction for High Trust Bank was $164.8 million, and the loss-share transaction for One Georgia Bank was $146.3 million. The FDIC estimates that the cost to the Deposit Insurance Fund for High Trust Bank will be $66 million and for One Georgia Bank, $44.4 million.

54 - First Peoples Bank, Port Saint Lucie, FIa., was closed by the Florida Office of …

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