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Monday, February 21, 2011 - 4:23am

Two More Georgia Banks Fail

Another two Georgia banks were seized into last weekend by regulators, including one of northeast Georgia’s oldest financial institutions.

Habersham Bank based in Clarksville operates eight branches. $380 million in assets were taken-over by South Carolina’s SCBT National Association.

Also closed was Citizens Bank of Effingham in Springfield, Ga. Its assets were acquired by Heritage Bank of the South from Albany.

This now makes six bank failures this year in Georgia. The state had 21 closures in 2010.