8 months ago
ATLANTA (AP) -- Regulators have ordered an Atlanta bank to immediately raise capital levels or find a buyer or merger partner.
The Federal Deposit Insurance Corp. said Friday that "prompt corrective action" was issued against RockBridge Commercial Bank, which lost $28 million in the third quarter.
The three-year-old bank also has $64 million of loans on its books it has given up hope of collecting on. A bank official declined to comment Friday when reached by the Atlanta Journal-Constitution.
The FDIC also said Friday that it issued "cease and desist" orders to American Trust Bank in Roswell, Eastside Commercial Bank in Conyers, and Montgomery Bank & Trust in Ailey.
The banks were ordered to improve capital reserves.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
