WASHINGTON — With the government's policy on private-equity deals still a work in progress, the Federal Deposit Insurance Corp. found an alternative last week for resolving certain types of failures.

The agency gave Georgia banker Joe Evans the green light to use the $300 million he raised from 26 institutional investors — none of which were private-equity firms — to acquire the six subsidiaries of Security Bank Corp. of Macon, Ga., which all failed Friday.

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