by Calculated Risk on 12/18/2009 05:12:00 PM

What happened down South?
Georgian banks fuel the collapse
A Rockbridge too far
by Soylent Green is People
From the FDIC: FDIC Approves the Payout of the Insured Deposits of Rockbridge Commercial Bank, Atlanta, Georgia

The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. ...

The FDIC was unable to find another financial institution to take over the banking operations of RockBridge Commercial Bank. ...

As of September 30, 2009, RockBridge Commercial Bank had approximately $294.0 million in total assets and $291.7 million in total deposits. At the time of closing, the bank had an estimated $2.1 million in uninsured funds. ...

RockBridge Commercial Bank is the 134th FDIC-insured institution to fail this year and the twenty-fifth in Georgia since The Buckhead Community Bank, Atlanta, was closed on December 4, 2009. The FDIC estimates the cost of the failure to its Deposit Insurance Fund to be approximately $124.2 million.

No buyers - a bad sign. And $2.1 million uninsured?