Three Banks, One CU Fail

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WASHINGTON – Regulator shuttered three more banks Friday, making a total of 43 failures so far in 2011.

Friday’s closings followed Wednesday’s liquidation by NCUA of $3 million Hmong American FCU in St. Paul, Minn., the year’s eight credit union failure.

The bank failures were: Atlantic Southern Bank, a $742 million Macon, Ga., institution; First Georgia Banking Company, a $730 million Franklin, Ga., bank and Summit Bank, a $142 million bank in Burlington, Wash.


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