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Saturday, November 21, 2009 11:21 PM

Published 11/07/2009 by Big News Network


United Security Bank in Sparta, Georgia closes

United Security Bank, Sparta, Georgia, was closed Friday by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

To protect depositors, FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to assume all of the deposits of United Security Bank.

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What others report on the same story

FDIC takes $1.5 billion hit
SAN FRANCISCO (MarketWatch) -- Five more banks, including a California-based institution that reportedly received federal bailout funds in 2008, were closed Friday ... - [11/07/2009 - MarketWatch]
$11 billion bank fails
SAN FRANCISCO (MarketWatch) -- Five more banks, including a California-based institution that reportedly received federal bailout funds in 2008, were closed Friday ... - [11/07/2009 - MarketWatch]
5 more banks fail, shutdown tally 120
New York, November 7 -- In yet another case of bank failure, United Commercial Bank was closed Friday, bringing the total to 120 this year.On an average, 11 banks ... - [11/07/2009 - The Money Times]
Bank failure Friday - [11/06/2009 - Rolfe Winkler - Reuters]
BRIEF-Regulators close small Georgia bank, 116t... - [11/06/2009 - FinanzNachrichten.de]
Georgia's United Security year's 116th failed bank - [11/06/2009 - MarketWatch]
Ameris Bancorp Announces Acquisition of United ... - [11/06/2009 - Financial Services]
United Security Of Sparta Georgia Is 116th Bank... - [11/06/2009 - 24/7 Wall St.]
Georgia bank fails - [11/06/2009 - CNN Money]
Georgia-Based United Security Bank Closed By Re... - [11/06/2009 - Nasdaq]
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United Security Bank of Georgia closed by FDIC [Business - cleveland.com - 11/06/2009]
The Federal Deposit Insurance Corp. on Friday took over United Security Bank, based in Sparta, Ga., with $157 million in assets and $150 million in deposits ...
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The FDIC inspector general's office noted the lapses and some instances of insufficient documentation in contract files in a report completed in September ...
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United Security Bank, Sparta, Georgia, was closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. The two branches of United ...
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Critics of the FDIC such as Sen. Chris Dodd may have new ammunition against the regulator as some of the 120 banks that failed this year were deemed 'healthy,' possibly ...
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FDIC Chairman Sheila Bair said the FDIC's upcoming quarterly report would show that "not many large institutions are doing a very good job of lending." ...
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