Another Georgia Bank Failure
I am beginning to feel like the FDIC is closing a Georgia bank every week. We lost another one yesterday. On Friday, regulators took over Sandy Springs based RockBridge Commercial Bank making it the 25th bank failure this year. Luckily there is only one more Friday (which is usually takeover day) this year so hopefully this will be the last one bank failure. Defaulting real estate borrowers appears to be the culprit yet again. Let’s hope that 2010 is a much better year for the Atlanta and Georgia banks.
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