Bank # 17 Goes Belly Up for 2009

Another end of the week, news of another bank that goes belly up. This week only one kicked the bucket, Freedom Bank, out of Commerce, Georgia, a smaller town midway between Atlanta and the South Carolina border. The death of Freedom Bank is the 17th bank to fail in the nine weeks of '09 so far.

With the news earlier of the massive additional funding for the FDIC, the coming few weeks may bring a much greater number of failures, even of a wave of bank collapses; or perhaps the demise of one or more of the big banks, including probably Citicorp.

Freedom Bank is first bank in Georgia to go belly up in '09, although 5 banks in The Peach State failed in the closing months of '08.

http://www.marketwatch.com/news/story/Georgia-bank-closed-17th-failure/story.aspx?guid={495C75DF-52C3-4D15-BEFF-456095B1798C}

http://www.fdic.gov/bank/individual/failed/banklist.html

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