A missing south Georgia bank director has been indicted on a bank fraud charge. Aubrey Lee Price was indicted Wednesday by a federal grand jury in Savannah. Prosecutors say his actions led to the depletion of the cash assets and reserves of Montgomery Bank & Trust in Ailey. Price already faces federal charges in New York, where authorities have accused him of embezzling $17 million.
Federal regulators have closed a small bank in Georgia, bringing the number of U.S. banks that have failed so far this year to 32. The Federal Deposit Insurance Corp. said Friday that it seized Montgomery Bank & Trust, based in Ailey.