Georgia

Two community banks in Georgia, and one in Florida, were closed late Friday at a cost of more than $130 million to the Federal Deposit Insurance Corp.

Colony Bankcorp Inc. in Fitzgerald, Ga., eked out a third-quarter profit, though it also announced Wednesday that its president and chief executive had resigned.

State regulators closed three banks along the East Coast and one in Illinois on Friday night, bringing this year's failure tally to 80.

The president of a small Atlanta-based bank testified to Congress on Wednesday that the derivatives provisions in the Dodd-Frank Act could hinder the bank's ability to manage risk and serve its clients.

United Community Banks Inc. in Blairsville, Ga., said it will record a special loan-loss provision of $25 million for the third quarter due to concerns over collateral associated with its largest loan relationship.

State Bank Financial has bought 10 failed banks since 2009, and CEO Joe Evans discusses his outlook for more deals. He also discusses challenges with loan demand, and the long-term outlook for his bank in its core markets of Atlanta and Macon, Ga.

The Office of the Comptroller of the Currency closed First National Bank of Florida, in Milton, on Friday.

Hamilton State Bancshares Inc. in Hoschton, Ga., said Friday that it completed a cash tender offer, repurchasing $1.5 million of its common stock.

Regulators have hit Woodbury Banking Co. with a consent order for weaknesses in the company's asset quality, capital, earnings and management.

Regulators closed banks in Florida, Georgia and Illinois Friday, all in places were many banks have already met their demise. On Thursday, a bank failed in Pennsylvania, one of just a handful to fail in that state in the last few years.

The banking crisis in Georgia has spread to the state capital, as several lawmakers, including the governor, have personal ties to some of the state’s failed banks.

Profits at State Bank Financial in Atlanta said its second-quarter profit fell 10% from the same period last year as gains in interest income were offset by higher expenses and an increase in its loan-loss provision.

The Federal Reserve on Tuesday announced that it has reached a written agreement with Coastal Bankshares Inc. in Savannah, Ga.

Hamilton State Bancshares Inc. is looking to repurchase up to $4.2 million of its common stock just five months after the Atlanta-area company received a hefty capital infusion to buy other banks.

After ripping off 11 straight quarters of losses, the Blairsville, Ga., company reported a second-period profit last week. That turned heads.

United Community Banks Inc. is finally back in the black after it unloaded scores of problem assets and raised $380 million of fresh capital.

Jones Bancshares LP agreed to serve as a source of strength to its $405.1 million-asset PrimeSouth Bank in Blackshear, which has been operating under a consent order from the Federal Deposit Insurancce Corp. since Jan. 31.

The Fed announced written agreements with four banking companies: Southern Community (N.C.), First Community (Texas), First Chatsworth (Ga.) and First National (Ala.)

Georgia state regulators shut $103.7 million-asset Mountain Heritage Bank in Clayton on Friday, making it the 48th bank to fail so far this year and 14th failure in Georgia.

Regulators shut the $340 million-asset McIntosh State Bank in Jackson, Ga., and the $98 million-asset First Commercial Bank of Tampa Bay, bringing the failure total this year to 47.