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WASHINGTON — Regulators have shut down three Georgia banks and one each in New Jersey and Ohio, boosting to 124 the number of U.S. bank failures this year amid the tough economic climate and growing loan defaults.
The Federal Deposit Insurance Corp. on Friday took over the Georgia banks: Bank of Ellijay, in Ellijay; First Commerce Community Bank of Douglasville; and Peoples Bank, based in Winder. The FDIC also seized ISN Bank in Cherry Hill, N.J., and Bramble Savings Bank of Milford, Ohio.
