Feds Shut Down Midtown-based Bank

The Georgia Department of Banking and Finance closed Midtown-based on Friday.

Ameris Bank of Moultrie, Georgia, will take over the banking operations of One Georgia Bank, including all the deposits, according to a news release from banking regulators.

The Federal Deposit Insurance Corporation said One Georgia Bank was shut down to protect depositors.

High Trust Bank of Stockbridge was also closed by bank regulators on Friday afternoon. The two closings mark the fifteenth and sixteenth bank failures in Georgia, according to the FDIC.

The banks' branches will be open on Saturday.

The FDIC said customers' deposits are insured and account holders can continue to use ATM cards and debit cards and write checks on their accounts.

One Georgia Bank had total assets of $186.3 million and total deposits of $162.1 million.

One Georgia Bank customers with questions about the bank's closure can call the FDIC at 1-877-894-4713.

Depositors can also get more information at http://www.fdic.gov/bank/individual/failed/onegeorgia.html.

Officials estimate that One Georgia Bank's failure will cost the federal Deposit Insurance Fund $44.4 million.