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Saab upgrading bid for Brazil FX-2 contest
WASHINGTON, July 7 (UPI) -- Federal regulators said Ameris Bank of Moultrie, Ga., would buy the deposits and some of the assets of Montgomery Bank & Trust, which failed this week.
The Georgia Department of Banking and Finance closed the Montgomery bank, the 32nd bank closure in the country this year.
The failed bank had about $173.6 million in total assets. Ameris is set to buy $12.4 million of those, the Federal Deposit Insurance Corp. said Friday.
Ameris will assume all of the failed bank's deposits – valued at $164.4 million as of the end of March, The Wall Street Journal reported Saturday.
The closure will cost the FDIC about $75.2 million, the federal agency said.
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| Additional Business News Stories | |
BEIRUT, Lebanon, May 22 (UPI) --
The seizure of Syrian oil fields by the al-Nusra Front could accelerate the breakup of Syria amid a reshaping of the Middle East's geopolitical landscape.
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OTTAWA, May 22 (UPI) --
Canadian Prime Minister Stephen Harper faces more embarrassing questions as new evidence suggests the nation's strategy for building a strong arctic naval force is out of control.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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