The FDIC closed three more banks after the market closed today. FirstBank Financial Services Inc based in McDonough, Georgia, was the FDIC’s eighth victim in 2009.
FirstBank Financial Services Inc. in Georgia and Alliance Bank in California were seized today by state regulators, bringing this year’s tally of failed banks to eight, as the recession and record foreclosures extend the biggest financial crisis in more than 70 years.
The Georgia Department of Banking and Finance closed McDonough-based FirstBank, which had $337M in assets and $279M in deposits as of Dec 31, FDIC said in a statement.
All deposit accounts have been transferred to Regions Bank of Birmingham, AL, and will be available immediately. On Monday February 9, 2008, the former FirstBank Financial Services locations will reopen as branches of Regions Bank.
For more information, go to the official FDIC web page.
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