Atlanta Based Bank Fails - Shutdown by the FDIC
 

SAN FRANCISCO (MarketWatch) -- Integrity Bank of Alpharetta, Ga., with $1.1 billion in assets and $974 million in deposits, was closed Friday by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. was named receiver. This marks the 10th U.S. bank failure so far this year. All deposit accounts have been transferred to Regions Bank of Birmingham, Ala. and depositors of Integrity Bank will automatically become depositors of Regions Bank for the full amount of their deposits. Regions Bank will pay a total premium of 1.012% for the failed bank's deposits and will purchase about $34.4 million of Integrity Bank's assets.

10th bank to fail in 2008.

http://www.marketwatch.com/news/stor...7D&siteid=bnbh

as long as the people get their money back fuck em.

I saw the title and my heart was in my throat.

i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

this whole thing stinks...

what he said...

Hey the bank paid a 10th of a percent premium to get the money. The public (people who had accounts) did not get fucked and all their money is ok. Just seems that the Government is trying to not have to fuck people with FDIC limits and shit.

Though at the same time it is obvious they are shuffling the deck at the top. I.E. more rich fucks are getting some great deals and making even more money.

this is a bad sign of more banks getting shut down.

Run,,,,pull all your money out!

why didn't god intervene in this wacked out jesus bank?

http://www.ajc.com/services/content/...vc=7&cxcat =6

The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months.

...

Integrity’s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.

“We felt if we prayed and obeyed God’s word and did what He asked, that He would help us be successful,” the bank’s founder, Steve Skow, told the Journal-Constitution in 2005.

jeebus let me down on this one.

Cronies helping cronies amass more wealth.

they forgot what he did to the money lenders,it was the only time he really lost his cool.

pfff haa ah 1.012% , that's nothing

any pics ?? :Graucho

Doesn't seem like anyone suffers in this case, all assets were transferred and they paid a tiny premium to acquire those assets. Seems like its better than a loss in any case.
WG