Synovus unit takes over failed Georgia bank

Bank of North Georgia, an Atlanta-area sister of The Bank of Nashville, will assume more than $50 million in deposits and $30 million in assets formerly belonging to American Southern Bank. It’s the fifth bank failure in Georgia this year.

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Tags: American Southern Bank, bank failures, Bank of North Georgia, banking, Federal Deposit Insurance Corp., financial regulation, Georgia, government regulation, Synovus Financial Corp., The Bank of Nashville