PRESS RELEASE - SP Newsprint Co., LLC, which operates one of its two manufacturing facilities in Dublin, GA and has a subsidiary, SP Recycling Corp., which is based in Atlanta, announced that it has entered into a forbearance agreement with its revolving and term lenders. Under the terms of the agreement, SP will be provided with additional liquidity and the lenders will forebear from exercising any rights or remedies that might otherwise have been available to them. During the forbearance period, SP, its lenders and advisors will work to develop and implement a business plan for SP which will ensure its viability on a long-term basis.
Monday, July 18, 2011
Moultrie-Based Ameris Bank Acquires Two Failed Banks From FDIC
STAFF REPORT - Moultrie-based Ameris Bank announced today a definitive
agreement with the Federal Deposit Insurance Corporation to assume the
deposits and certain assets of One Georgia Bank in Midtown Atlanta,
Georgia, and High Trust Bank in Stockbridge with a branch location in
Leary, Georgia. The Georgia Department of Banking & Finance declared
One Georgia Bank and High Trust Bank closed as of Friday, and
appointed the FDIC as receiver for both financial institutions. The
FDIC entered into a loss-share transaction and sold the assets and
deposit liabilities of One Georgia Bank and High Trust Bank to Ameris
Bank.
agreement with the Federal Deposit Insurance Corporation to assume the
deposits and certain assets of One Georgia Bank in Midtown Atlanta,
Georgia, and High Trust Bank in Stockbridge with a branch location in
Leary, Georgia. The Georgia Department of Banking & Finance declared
One Georgia Bank and High Trust Bank closed as of Friday, and
appointed the FDIC as receiver for both financial institutions. The
FDIC entered into a loss-share transaction and sold the assets and
deposit liabilities of One Georgia Bank and High Trust Bank to Ameris
Bank.
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