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Georgia Bank Failure Brings 2012 Tally to 50

Marking the 50th bank closing nationwide this year, the two branches of ""Hometown Community Bank"":http://www.hometowncb.com/ in Braselton, Georgia shut their doors Friday and reopened Saturday as branches of ""CertusBank,"":http://www.certusbank.com/ National Association of Easley, South Carolina.

After the ""Georgia Department of Banking and Finance"":http://dbf.georgia.gov/ shut down the failed bank Friday, the ""FDIC"":http://www.fdic.gov/ entered a purchase and assumption agreement with CertusBank, which has agreed to assume all of the deposits and nearly all of the assets of the shuttered bank.

Hometown Community Bank is the 10th Georgia bank to close this year.

The bank held about $124.6 million in assets and about $108.9 million in deposits as of the end of the third quarter of this year.

The FDIC estimates it will incur a loss of about $36.7 million as a result of Hometown's failure.


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