Two Banks in Georgia and Washington Shut Down by U.S.

Small banks, usually operating with less than 1 billion dollars in assets, continue to close across America as they are unable to recover from the financial crisis as well as major banks. On May 20th, authorities shut down two banks in Georgia and Washington, which were later purchased by Blue Ridge Holdings. Blue Ridge Holdings, founded last year, has been slowly purchasing closed banks in the Southeast.

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UPDATE 1-U.S. closes banks in Georgia and Washington state