Another Two Georgia Banks Closed
Sunday, February 20th, 2011
The Georgia Department of Banking and Finance shut downHabersham Bankof Clarkesville andCitizens Bank of Effinghamon Friday evening. Through an agreement with theFederal Deposit Insurance Corp., Habersham Bank will be acquired by SCBT National Association of Orangeburg, S.C. Albany, Ga.-based HeritageBank of the South will assume all of the deposits of Citizens Bank of Effingham. The closures marked the fifth and sixth bank failures in Georgia this year. Since August 2008, when the banking crisis began, 57 Georgia banks have failed.
