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Southern Community Bank , based in Fayetteville, Georgia, was closed by the Georgia Department of Banking and Finance and the FDIC on Friday.  Its assets were taken over by United Community Bank .  It is the 12th Georgia bank failure in less than a year.  Click here for information from the FDIC. From the Atlanta Business Chronicle : Last October, Southern Community announced it had overhauled operations and raised capital in an attempt to survive, after receiving a cease and desist o

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Tags: Bank, Bankruptcy, Business, Finance

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