Bank Failures Grow By Another Four Institutions, $1 Billion in Assets

State and federal regulators closed and sold four banks in Georgia and California with more than $1 billion in combined assets over the weekend: Habersham Bank in Cornelia, GA; San Luis Trust Bank in San Luis Obispo, CA; Citizens Bank of Effingham in Springfield, GA; and Charter Oak Bank in Napa, CA.

Habersham Bank was closed by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corp. (FDIC) as receiver…

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