Regulators Close Banks in Georgia, Florida, Arkansas, and Minnesota

By: Associated Press
By: Associated Press

Washington, D.C. (AP) - Regulators have shuttered three small banks in
Georgia and one each in Florida, Arkansas and Minnesota, raising to
157 the number of U.S. banks brought down this year by the
struggling economy and soured loans.

The Federal Deposit Insurance Corp. took over the three Georgia
banks: Appalachian Community Bank of McCaysville, with $68.2
million in assets; Chestatee State Bank, based in Dawsonville, with
$244.4 million in assets; and Atlanta-based United Americas Bank,
with $242.3 million in assets.

The FDIC also seized Bank of Miami, based in Coral Gables, Fla.,
with $448.2 million in assets; First Southern Bank of Batesville,
Ark., with $191.8 million in assets; and Community National Bank of
Lino Lakes, Minn., with $31.6 million in assets.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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