Regulators take over Ga., Minn. banks

Feb. 25, 2012 at 11:28 AM
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WASHINGTON, Feb. 25 (UPI) -- State and federal regulators said they closed banks in Georgia and Minnesota this week.

The Georgia Department of Banking and Finance said it had seized the Central Bank of Georgia, which has its main office in Ellaville, The Street reported Saturday.

The bank, which had $278.9 million in assets and $266.6 million in deposits, was sold to Ameris Bank of Multire, Ga., the same bank that took over One Georgia Bank when it failed last year.

Central Bank has five offices, which were schedule to open for business Saturday under the auspices of Ameris Bank.

The Federal Office of the Comptroller of the Currency this week took over Little Falls, Minn., bank Home Savings of America.

The firm has $434.1 million in total assets and $532.2 million in deposits. Currently, the Federal Deposit Insurance Corp. is taking the role of receiver for the failed bank.

A buyer has not been found, The Street said.

The FDIC said loan payments should be made "as usual."

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