CertusBank, a subsidiary of Blue Ridge Holdings, has taken over two struggling banks in Georgia, banking regulators said Saturday.
The Georgia Department of Banking and Finance closed the Atlantic Southern Bank of Macon, Ga., and the First Georgia Banking Co. of Franklin, Ga. With the Federal Deposit Insurance Corp. acting as intermediary, they were sold to CertusBank, which purchased anther failed bank in January, the Community South Bank & Trust.
A total of 42 U.S. banks have now failed in 2011 with 12 of them from Georgia, the most of any state.
This week's purchases also thrust CertusBank into new territory, creating a bank valued at $2 billion.
Atlantic Southern Bank was listed with $741.9 million in assets and $707.6 million in deposits. First Georgia Banking Co. had $731 million in assets and $702.2 million in deposits.