Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

#Varoufexit: Greece's Finance Minister Bows Out

Read more

THE DEBATE

What now? Uncertainty for Greece and for Europe - part 1

Read more

THE DEBATE

What now? Uncertainty for Greece and for Europe - part 2

Read more

REVISITED

One year after Gaza war, residents still struggling to survive

Read more

REPORTERS

Libya in search of unity

Read more

ENCORE!

Tina Arena: Love, loss and la langue française

Read more

THE INTERVIEW

History’s worst tragedies: Would you have resisted?

Read more

TALKING EUROPE

Lithuanian president: 'Greek govt is not willing to take responsibility'

Read more

FOCUS

Violence and chaos await migrants in Libya

Read more

Business

Atlanta's Georgian Bank becomes USA's latest bank failure

Text by NEWS WIRES

Latest update : 2009-09-26

Atlanta's Georgian Bank became the eighth biggest bank failure of 2009, according to the Federal Deposit Insurance Company (FDIC). Ninety-five banking American institutions have shut this year, feeling the effects of the economic crisis.

AFP - US government bank insurer FDIC announced Friday the latest in a string of US bank failures with the closure of Georgian Bank -- the eighth biggest failure in the United States this year.
   
The failure brings to 95 the number of US banking institutions that have closed their doors this year, the Federal Deposit Insurance Corporation said in a statement.
   
Georgian Bank is the 19th bank to fail in the US state of Georgia alone since January 1.
   
The government insurer also said the institution had total assets of two billion dollars, and that a South Carolina bank had agreed to enter a partnership with the FDIC to assume the deposits.
   
The FDIC said it estimates the takeover cost for its Deposit Insurance Fund to be some 892 million dollars.
   
 

Date created : 2009-09-26

COMMENT(S)