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Mon., January 2, 2012 1:41pm
The federal government is working to wind down the bank-rescue called the Troubled Asset Relief Program. Three Georgia banks have repaid the government’s investment, but roughly two dozen still have not. And 2011 was a rough year for Georgia banking, with regulators shuttering 23 institutions, the most in the nation.
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Mon., October 10, 2011 6:43am
Federal regulators are suing 11 insiders at a failed Georgia bank, accusing them of gross negligence. The Federal Deposit Insurance Corp. accuses the executives and directors of Alpha Bank & Trust, in Alpharetta, of sloppy lending practices. The Atlanta Journal-Constitution reports the lawsuit seeks $23.9 million in damages.
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Sat., September 3, 2011 7:47am
Regulators have closed two small banks in Georgia, bringing the total number of closures in the state this year to 19. Nationwide, the Federal Deposit Insurance Corp. has closed 70 banks.
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Tue., August 23, 2011 3:03pm
Federal banking regulators want former officials of Atlanta-based Silverton Bank to pay $71 million in damages following Georgia's largest bank failure. Silverton went belly up two years ago. Now, the Federal Deposit Insurance Corporation alleges, former bank officials followed lax lending policies and bought lavish airplanes and posh buildings while their bank verged on collapse.
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Wed., August 10, 2011 7:43am
The proliferation of bank failures in Georgia has drawn the attention of Congress. The House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit will host a hearing in Newnan on Aug. 16. U.S. Rep. Lynn Westmoreland says the hearing will focus on the impact regulations may be having on community banks.
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Thu., July 21, 2011 3:13pm
Georgia Rep. Lynn Westmoreland wants the Federal Deposit Insurance Corp. to take a closer look at how it goes about closing banks. Westmoreland said agency regulators have flexibility in how they work with banks that might be in trouble, but they are not using it out of fear they will back a bank that still ends up failing. The north Georgia congressman said he worries the FDIC is closing community banks that could ultimately survive with some help.
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Sat., June 18, 2011 6:50am
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.
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Thu., February 24, 2011 4:31pm
Two-thirds of the Georgia’s banks had improved earnings in 2010 and fewer institutions operated in the red, according to the fourth-quarter banking profile from the Federal Deposit Insurance Corporation. Georgia banks lost $1.6 billion in 2010, less the half their losses in 2009. But nationwide, banks made more than $87 billion altogether last year.
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Sat., February 19, 2011 8:57am
Regulators have shut down two small banks in Georgia, making six banks that have failed in the state this year.
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Wed., January 19, 2011 2:34pm
State Senator Republican Jack Murphy says he’s innocent of federal charges brought against him. The FDIC is suing him and others who sat on the board of a failed local bank. The civil lawsuit alleges the bank violated banking laws.
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