Lincoln Ritter
One more Friday, one more Georgia bank falls. Omni National Bank of Atlanta, a bank that specialized in urban real estate re-development loans, failed this evening. SunTrust Bank, also in Atlanta, will assume its insured deposits.
Omni had about $956 million in assets. Taking it over will cost the FDIC an estimated $290 million.
Plus, listener Joel Weyrick notes that that not all banks fail on Friday. True. You can see the breakdown of FDIC closure days in the graph above (thanks to my data-loving husband).
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