Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Iraq's Christians - Nowhere to Run? (part 2)

Read more

DEBATE

Iraq's Christians - Nowhere to Run?

Read more

MEDIAWATCH

Towards a "Third Intifada"?

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

IN THE PAPERS

Israeli strike takes out Gaza power station

Read more

IN THE PAPERS

French newspaper apologises for Sarkozy story

Read more

BUSINESS DAILY

Last-ditch talks aim to avert Argentina default

Read more

  • Israel says it is 'days' from completing Gaza tunnel hunt

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • Argentina fails to reach deal with holdout creditors

    Read more

  • Liberia shuts all schools as Ebola virus spreads

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Video: Coping with rocket attacks in Israel’s Sderot

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • France evacuates nationals, closes embassy in Libya

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

  • Graphic: Ebola spreads across West Africa

    Read more

  • Video: How tourism is helping Rwanda’s gorillas, ex-poachers

    Read more

  • Islamists seize key Benghazi army base as fire rages on

    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)