Washington (AP) - Regulators have shut down Community Bank of West Georgia, marking the 41st failure this year of a federally insured bank.
The Federal Deposit Insurance Corp. was appointed receiver of the failed bank, based in Villa Rica, Ga. it had $199.4 million in assets and $182.5 million in deposits as of May 15.
The FDIC says it will mail checks to depositors for the amounts of their insured funds. Direct deposits from the government, such as Social Security and Veterans' Benefits, will be transferred to united community bank in Blairsville, Ga.
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