WASHINGTON, Feb. 5 (UPI) -- Federal regulators said three U.S. banks closed this week, the largest being a three-branch bank based in Roswell, Ga.
The three-branch bank, American Trust Bank of Roswell, which had about $238.2 million in assets and $222.2 million in deposits, will be taken over by Renasant Corp.'s banking subsidiary, The Wall Street Journal reported Saturday.
A two-branch bank based in Watkinsville, Ga., North Georgia Bank, will be acquired by BankSouth of Greensboro, Ga., the Federal Deposit Insurance Corp. said.
North Georgia Bank had $153.2 million in assets and $139.7 million in deposits.
In Illinois, the FDIC took control of Community First Bank-Chicago, a one-branch operation with $51.1 million in total assets and $49.5 million in total deposits. That bank will open Monday as part of Northbrook Bank and Trust Co., the Chicago Tribune reported.
The first bank failure in Illinois in 2011 came Friday when Community First Bank-Chicago was closed by state banking regulators, the FDIC said.
Community First Bank has only one branch, at the intersection of Western Avenue and Howard Street.
The regulator estimates the cost of the failure to its insurance fund will be $11.7 million.
The FDIC estimated the cost of the three failures, paid from the deposit insurance fund would be $118.4 million.
