Regulators shut 2 small Georgia banks

July 15, 2011 - 3:59 PM

WASHINGTON (AP) — Regulators have shut down two small banks in Georgia, lifting to 53 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday seized High Trust Bank in Stockbridge and One Georgia Bank in Atlanta.

High Trust had about $192.5 million in assets and $189.5 million in deposits. One Georgia had about $186.3 million in assets and $162.1 million in deposits.

Ameris Bank, based in Moultrie, Ga., agreed to assume all of the deposits from the two banks and to buy essentially all of their assets.

The failures are expected to cost the deposit insurance fund $110.4 million, combined.

High Trust Bank had two branches, and One Georgia Bank had one branch.