Freedom Bank of Georgia closed on Friday by the Georgia Department of Banking and Finance. FDIC arranged for Northeast Georgia Bank, Lavonia, GA to assume all of the deposits of the failed bank. The estimated cost to the FDIC’s Deposit Insurance Fund will be $36.2 million. The first bank to fail in the state in 2009 was FirstBank Financial Services in McDonough, GA on February 6. The bank is the second bank to close in 2009 after the first failed bank in February.”]
Source: https://www.bankinfosecurity.com/georgia-bank-17th-to-fail-in-2009-a-1258