Tuesday, February 22, 2011

"Two more small Georgia banks fail"

This CAN be halted. Call your GA State Legislator today, tell them to PASS HB 3 and SB 116 - bills that will SAVE the banking industry in Georgia, and protect ALL of the people's money.

Two more Georgia banks were closed Friday, including one with offices in Flowery Branch and Canton.

Clarkesville-based Habersham Bank, founded in 1904 in the North Georgia mountains, was seized and sold to SCBT of Orangeburg, S.C., the Federal Deposit Insurance Corp. said.

Citizens Bank of Effingham in Springfield, near Savannah, was acquired by Albany's HeritageBank of the South.

Six banks have failed in Georgia so far this year. A nation-leading 57 banks have failed in Georgia since mid-2008.

Regulators appear to be stepping up the pace of failures to start 2011. Georgia didn’t reach six failures in 2010 until late March.


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