Nine former directors of Southern Community Bank in Fayetteville, Ga., were charged by the Federal Deposit Insurance Corp. for approving risky loans that later led to the bank’s collapse in 2009, an article from American Banker said. 

As members of the bank’s loan committee, the directors “were responsible for analyzing underwriting memoranda and supporting documentation to ensure that loans complied with the bank’s guidelines, regulations and prudent lending practices,” the FDIC charged in court papers