Bank failure list tops 45 (CNNMoney)

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By Ben Rooney, CNNMoney.com staff writer
Last Updated: June 26, 2009: 10:38 PM ET

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NEW YORK (CNNMoney.com) -- Local banks in Georgia, Minnesota and California were closed Friday by state regulators, bringing the total number of failed banks this year to 45, according to the Federal Deposit Insurance Corporation.

The financial crisis has taken a heavy toll on small banks across the nation as losses in the housing market mount and unemployment dents household wealth. Analysts expect the trend to continue even as larger banks stabilize and the overall economy begins to recover.

Community Bank of West Georgia, which operated one branch in Villa Rica and another in Kennesaw, had total assets of $199.4 million and total deposits of $182.5 million, according to the FDIC.

The failed bank had roughly $1.1 million in deposits that exceeded the FDIC's $250,000 insurance limit for individual accounts. However, this amount is expected to change as the agency obtains more information from uninsured customers, the FDIC said.

The FDIC will mail checks to insured depositors of the failed bank on Monday morning. Direct deposits from the federal government, such as Social Security and Veterans' payments, will be transferred to United Community Bank of Blairsville, Ga.
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more: http://money.cnn.com/2009/06/26/news/companies/bank_failure/index.htm?postversion=2009062622