Select an option below to continue reading this premium story.
Already a Honolulu Star-Advertiser subscriber? Log in now to continue reading.
Feds close 39 banks so far in 2012
WASHINGTON >> Regulators closed a small bank in Georgia on Friday, bringing to 39 the number of U.S. bank failures this year.
That’s a slower pace than in 2011; 61 banks had failed by this time last year.
The Federal Deposit Insurance Corp. seized Jasper Banking Co., based in Jasper, Ga., with $216.7 million in assets and $213.1 million in deposits.
Stearns Bank, based in St. Cloud, Minn., agreed to assume all the deposits and purchase essentially all the loans and other assets of the failed bank.
Georgia has been one of the states hit hardest by bank failures. Regulators shuttered 23 banks in the state last year. The failure of Jasper Banking brings the number of bank failures in Georgia this year to nine.