Regulators on Friday shut six banks in Georgia and a small bank in New York state, raising to 64 the number of federally insured banks to fail this year.
The Federal Deposit Insurance Corp. was appointed receiver of the banks: six bank subsidiaries of Security Bank Corp., based in Macon, Ga.; and Waterford Village Bank of Clarence, N.Y.
The six Security banks had a total of 20 branches, which will reopen during normal business hours starting Saturday as branches of State Bank and Trust, the FDIC said.
They are: Security Bank of Bibb County, based in Macon; Security Bank of Houston County, based in Perry; Security Bank of Jones County, based in Gray; Security Bank of Gwinnett County, based in Suwanee; Security Bank of North Metro, based in Woodstock; and Security Bank of North Fulton, based in Alpharetta.
The only thing that surprises me is that we haven’t seen any actual runs on the banks.