Three Banks Seized by the FDIC on May 20

On Friday, May 20, 2011, Atlantic Southern Bank, Macon, GA and First Georgia Banking Company, Franklin, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
All deposit accounts (of the combined 26 branches), excluding certain brokered deposits of both institutions, have been transferred to CertusBank, National Association (N.A.), Easley, SC and will reopen as branches of CertusBank, N.A. during regular business hours.

On the west coast the Feds seized Summit Bank, Burlington, WA was closed by the Washington State Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All deposit accounts, excluding certain brokered deposits, have been transferred to Columbia State Bank, Tacoma, WA and will reopen as branches of Columbia State Bank during regular business hours.

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