June 26, 2009

WASHINGTON (AP) -- Regulators have shut down Community Bank of
West Georgia, marking the 41st failure this year of a federally
insured bank.

Later, another Georgia bank, Neighborhood Community Bank of
Newnan, also was shut down.

The Federal Deposit Insurance Corp. was appointed receiver of
the failed banks.

Community Bank of West Georgia, based in Villa Rica, had $199.4
million in assets and $182.5 million in deposits as of May 15.

The FDIC says it will mail checks to depositors for the amounts
of their insured funds. Direct deposits from the government, such
as Social Security and veterans' benefits, will be transferred to
United Community Bank in Blairsville, Ga.

CharterBank of West Point, Ga., will assume all deposits of
Neighborhood Community Bank, which had total assets of $221.6
million and total deposits of $191.3 million.

(Copyright 2009 by The Associated Press. All Rights Reserved.)