
Integrity Bank of Alpharetta, Ga., on Friday became the 10th U.S. bank to fail this year, done in by the very business it was built on -- real estate lending.
Regions Bank of Birmingham, Ala., will assume all of Integrity Bank's $974 million in insured and uninsured deposits in 23,000 accounts, and about $34.4 million of its $1.1 billion in assets.
Failures just keep happening.
Yep. Strange that Georgia should be the site of several collapsed banks. So Integrity was swallowed up by a larger bank -- doesn't that tend to pull Regions Banks's profits down by having to take on Integrity's negative balance -- thereby putting it in danger of failing also??
Georgia does have a lot of these. Regions is HUGE so I doubt if this will impact them much.
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