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Saturday, November 28, 2009 - 5:16am

FDIC Tightens Reins on Four Ga. Banks

The FDIC is tightening its reins on four Georgia banks.

The Federal Deposit Insurance Corporation has ordered Rock Bridge Commercial bank in Atlanta to immediately raise capital or find a buyer or merger partner. The bank lost 28 million dollars this past quarter.

Federal regulators also issued cease and desist orders to America Trust Bank in Roswell, Eastside Commercial Bank in Conyers, and Montgomery Bank & Trust in Ailey.

Georgia has had the most bank failures in the nation this year.

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