Two banks in Georgia, 1 in Washington fail

Associated Press Contributor
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TEL AVIV (MarketWatch) – Two banks in Georgia and one in Washington state failed were closed by regulators and taken over by other banks, bringing the year’s failed-bank total to 43, the Federal Deposit Insurance Corp. said Friday.

In Georgia, Atlantic Southern Bank of Macon, /quotes/comstock/11i!asfn ASFN 0.00% with $741.9 million of assets, and First Georgia Banking Co. of Franklin, with $731 million, were closed by the state Department of Banking and Finance.

The failure of Atlantic Southern will cost the FDIC’s deposit-insurance fund $273.5 million and First Georgia Banking will cost $156.5 million.

Full story: Two banks in Georgia and 1 in Washington fail – MarketWatch