Georgia

The Federal Deposit Insurance Corp. assessed a fine on the chairman of the Georgia House of Representatives' banking committee in connection with his relationship with a bank in the state.

Fidelity Southern Corp. in Atlanta said Friday that it had raised $14.4 million in a private placement. The $2 billion-asset company also said it sold about 2.2 million shares of common stock at $6.65 a share, or 9.9% of shares outstanding.

Now its patience and determination appear to be paying off. Last Friday Blue Ridge's CertusBank subsidiary got a lot bigger when it received regulatory approval to acquire two failed Georgia banks from the Federal Deposit Insurance Corp.

Three failures late Friday, including a pair in Georgia, cost the Federal Deposit Insurance Corp. an estimated $445 million.

The Federal Reserve on Thursday released information on written agreements with five banking companies.

Brand Group Holdings Inc. in Lawrenceville, Ga., said Wednesday that it had raised $200 million in capital through a number of well-known private-equity groups.

Georgia United Credit Union in Atlanta said Monday that it had completed its merger with State Employees Credit Union over the weekend.

Several frequent buyers of failed banks struck new deals with regulators on Friday for another batch of collapsed institutions. In total, the Federal Deposit Insurance Corp. took five banks into receivership, with a total of $2.16 billion in assets.

United Community Bancshares Inc. in Blairsville, Ga., has not reported a profitable quarter since mid-2008, but its chief executive said Thursday that he expects that to change starting this quarter.

Six banks in four states met their demise and two new banks were chartered in their ashes in perhaps the busiest night the Federal Deposit Insurance Corp. has had so far in 2011.

A pair of banking companies said late Wednesday that they had left the Troubled Asset Relief Program.

State Bank Financial Corp. in Atlanta said late Wednesday that it received approval to start trading on the Nasdaq Capital Market.

Many of these young banks are treading water, at best, waiting for the elusive rebound while coping with higher compliance costs.

The $7.4 billion-asset company said its board has also approved a plan to sell about $293 million in substandard and nonperforming loans and $142 million in foreclosed properties.

Credit Union of Atlanta has named Sheilah Montgomery, the former president of 1st Choice Credit Union, as its president and chief executive.

United Community Banks Inc. in Blairsville, Ga., is emerging from its credit woes with plans announced late Wednesday to raise $380 million.

United Community Banks Inc. said late Wednesday that it is raising $380 million through a private placement with an affiliate of Corsair Capital LLC and a group of institutional investors.

Hamilton State Bancshares Inc. has raised $231.6 million in capital that it plans to use to exit the Troubled Asset Relief Program and buy failed banks.

Heritage Financial Group Inc. of Albany, Ga., said Friday that it has shuffled its management and brought on a new executive to further its expansion strategy.

United Community Banks Inc. in Blairsville, Ga., said Thursday that its board has adopted a tax benefits preservation plan to protect the company from any unintended ownership change.