Feds shut down Atlanta 'bank of banks'

Silverton Bank failure could have regional repercussions

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In what’s reportedly the biggest bank failure in Georgia history, federal regulators have shut down Atlanta-based Silverton Bank N.A. appointing the Federal Deposit Insurance Corp. as receiver.

Silverton Bank had approximately $4.1 billion in assets and $3.3 billion in deposits, all of which the FDIC said are expected to be within its insurance limits. It was the 30th bank failure nationwide so far this year, and Georgia’s sixth.