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FDIC Tightens Reins on 4 Georgia Banks

By
Jay Black
@ November 28, 2009 2:51 AM Permalink | Comments (0)

ATLANTA (AP) Regulators have ordered an Atlanta bank to immediately raise capital levels or find a buyer or merger partner.

The Federal Deposit Insurance Corp. said Friday that ``prompt corrective action'' was issued against RockBridge Commercial Bank, which lost $28 million in the third quarter.

The three-year-old bank also has $64 million of loans on its books it has given up hope of collecting on. A bank official declined to comment Friday when reached by the Atlanta Journal-Constitution.

The FDIC also said Friday that it issued ``cease and desist'' orders to American Trust Bank in Roswell, Eastside Commercial Bank in Conyers, and Montgomery Bank Trust in Ailey.

The banks were ordered to improve capital reserves.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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