Banks closed in Ga, NC, NJ, Ill; 80 failed in '11

AP News
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Posted: Oct 14, 2011 7:36 PM
Banks closed in Ga, NC, NJ, Ill; 80 failed in '11

Regulators have closed small banks in Georgia, North Carolina, New Jersey and Illinois, boosting to 80 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday seized Piedmont Community Bank of Gray, Ga., with $201.7 million in assets and $181.4 million in deposits. It also shuttered Blue Ridge Savings Bank, based in Asheville, N.C., with $161 million in assets and $158.7 million in deposits.

Also closed was First State Bank in Cranford, N.J., with $204.4 million in assets and $201.2 million in deposits, and Country Bank in Aledo, Ill., with $190.6 million in assets and $167.5 million in deposits.