First Georgia Community Bank fails
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Jackson-based First Georgia Community Bank was closed by the Georgia Department of Banking and Finance on Friday, marking the failure of the 23rd bank in the nation this year and the fourth in the state.
The FDIC announced that the bank's four branches will reopen on Monday as part of United Bank of Zebulon.
The failed bank recently ranked sixth on a list of Georgia banks with a high Texas ratio, which gauges a financial institution's risk by comparing the level of problem loans to the amount of capital and reserves available to the bank.
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