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Saturday, September 3, 2011 - 4:47am

2 More Georgia Banks Close

Updated: 3 years ago.
The Federal Deposit Insurance Corp. seized Patriot Bank of Georgia in Cumming and CreekSide Bank of Woodstock. Atlanta-based Georgia Commerce Bank agreed to assume the assets and deposits of the two failed banks. (Photo Courtesy of Arnob Alam via Flickr.)

Regulators have closed two small banks in Georgia, boosting to 70 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday seized Patriot Bank of Georgia in Cumming, Ga., with $150.8 million in assets and $111.2 million in deposits, and CreekSide Bank of Woodstock, Ga., with $102.3 million in assets and $96.6 million in deposits. Atlanta-based Georgia Commerce Bank agreed to assume the assets and deposits of the two failed banks.

The failures are the 18th and 19th bank closings in Georgia this year.

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