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Failed banks mount; Ga, Ala banks shut

By: Associated Press
By: Associated Press

WASHINGTON (AP) - The toll of failed banks is mounting, with 80
institutions closed by regulators so far this year - the most since
1992 at the height of the savings-and-loan crisis.

The latest came Friday with the seizures of two small banks in
Georgia and one in Alabama: ebank, located in Atlanta, with $143
million in assets and $130 million in deposits; First Coweta, based
in Newnan, Ga., with $167 million in assets and $155 million in
deposits; and CapitalSouth Bank, based in Birmingham, Ala., with
$617 million in assets and $546 million in deposits.

The Federal Deposit Insurance Corp. was appointed receiver of
the failed banks.


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