WASHINGTON — Regulators shut Freedom Bank of Georgia late Friday in the government's 17th takeover of the year.

The $173 million-asset bank in Commerce became Georgia's seventh failed bank since the start of 2008, as the state continues to get hit hard by the housing decline.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.