Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Rwandan president claims 'no problem with France'

Read more

EYE ON AFRICA

Paul Kagame visits UNESCO HQ in Paris

Read more

MEDIAWATCH

Flamboyant US Congressman's Instagram Lands Him in Bother

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 2)

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 1)

Read more

#TECH 24

Drone vs. drone

Read more

FRANCE IN FOCUS

The future of agriculture

Read more

REVISITED

Yalta, the symbol of a new Cold War?

Read more

#THE 51%

Women in the workforce: IMF says closing the gender gap makes economic sense

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)