After a horrible week in Georgia, what better way to end it than have two more Georgia banks fail:
First Choice Community Bank of Dallas and Valdosta-based The Park Avenue Bank were seized and sold to Arkansas-based Bank of the Ozarks, the Georgia Department of Banking and Finance said.
Both banks will reopen under normal business hours as Bank of the Ozarks branches.
That’s the 9th and 10th banks closed in Georgia this year. As of two weeks ago, Georgia was still a strong number one in bank failures for 2010, a title we also held in 2008. We were edged out last year, but are on track to unfortunately regain this unwanted title.
H/T to AtlantaNewsFeed