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Another Bank Failure Costs FDIC $36 Million HW+

Mar 09, 2009By

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.

3d rendering of a row of luxury townhouses along a street

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