Bank failure · GA

American Southern Bank (Kennesaw, GA) — failed April 24, 2009

American Southern Bank of Kennesaw, Georgia was closed on April 24, 2009 and resolved through a purchase and assumption. Bank of North Georgia (GA) took over its insured deposits. At failure it held $106.0M in assets and $105.9M in deposits. The FDIC's estimated loss on the failure is $32.8M (31.0% of assets).