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Georgia bank is 23rd failure in US this year

By Reuters

First Georgia Community Bank, a small institution with $237.5m in assets, was closed by state regulators on Friday, marking the 23rd US bank failure this year.

All $197.4m in deposits were transferred to United Bank of Zebulon, Georgia, and the failed bank and its offices will reopen as branches of United Bank, the US Federal Deposit Insurance Corp said. First Georgia had branches in Jackson, Covington, Griffin and Locust Grove.

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