Georgia bank failure brings year's tally to 39
7/27/12 5:14 PM ET (MarketWatch)Print
SAN FRANCISCO (MarketWatch) -- Jasper Banking Co. of Jasper, Ga., became the 39th bank failure of the year, the Federal Deposit Insurance Corp. said Friday. Stearns Bank National Association of St. Cloud, Minn., will assume all the deposits and buy essentially all of the assets, the regulator said. As of March 31, Jasper had $213.1 million in deposits and $216.7 million in assets. The bank failure will cost the FDIC's deposit-insurance fund $58.1 million. It also marks the ninth bank failure in Georgia in 2012.
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