Sat., June 18, 2011 7:50am (EDT)

Regulators Close 13th Georgia Bank
By Associated Press
Updated: 2 years ago

WASHINGTON  —  
The Federal Deposit Insurance Corp. seized McIntosh State Bank in Jackson Friday. The bank’s deposits of $324 million will be taken over by Hamilton State Bank in Hoschton. (Photo Courtesy of Arnob Alam via Flickr.)
The Federal Deposit Insurance Corp. seized McIntosh State Bank in Jackson Friday. The bank’s deposits of $324 million will be taken over by Hamilton State Bank in Hoschton. (Photo Courtesy of Arnob Alam via Flickr.)
Regulators shut down another small bank in Georgia Friday, lifting to 13 the number of Georgia bank failures this year in the wake of economic distress and mounting soured loans.

Across the country, 47 banks have closed this year.

The Federal Deposit Insurance Corp. seized McIntosh State Bank, based in Jackson, with $339.9 million in assets and $324.4 million in deposits.

Hamilton State Bank, based in Hoschton, Ga., agreed to assume the assets and deposits of McIntosh State Bank.

Regulators also Friday closed a small bank in Tampa, Fla.