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Real Estate & Property Law

: Housing Wire

Another Bank Failure Costs FDIC $36 Million

By DIANA GOLOBAY

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Regulators on Friday shut down Commerce, Ga.-based Freedom Bank of Georgia. The Georgia Department of Banking and Finance, which closed the bank, named as receiver the Federal Deposit Insurance Corp., which entered a purchase an assumption agreement with Lavonia, Ga.-based Northeast Georgia Bank to assume all $161 million in deposits. The four branches of Freedom Bank [...]

Full post as published by Housing Wire on March 09, 2009 (boomark / email).

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