U.S. bank failures climb to 80 in 2011

Tuesday, October 18, 2011
By Paul Martin

By Maya Jackson
MaarketWatch.com

This year’s national tally of collapsed banks now at 80

Piedmont Community Bank in Gray, Ga., is the state’s 20th failure of the year

Regulators also shuttered First State Bank of Cranford, N.J., the Garden State’s first bank failure this year
Country Bank of Aledo, Ill., was that state’s eighth failure of the year.

WASHINGTON (MarketWatch) — Regulators on Friday closed banks in Georgia, North Carolina, New Jersey and Illinois, pushing this year’s national tally of collapsed banks to 80.
The Federal Deposit Insurance Corp. said the Georgia Department of Banking and Finance closed Piedmont Community Bank in Gray, Ga., the state’s 20th failure of the year. State Bank and Trust Co. of Macon, Ga., will assume all of Piedmont’s deposits, the agency said.

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