Regulators shut down bank in Georgia

NEW YORK - Regulators on Friday shut down Omni National Bank in Georgia, marking the 21st failure this year of a federally insured bank.

The Federal Deposit Insurance Corp. was appointed receiver of the bank, based in Atlanta. The fourth Georgia bank to be closed this year, it had $956 million in assets and $796.8 million in deposits as of March 9. There were about $2 million in uninsured deposits at the time of the closing.

Omni National had branches in Atlanta and Dalton, as well as Chicago, Tampa, Fla., Houston and Dallas. It had loan production offices in Philadelphia and Birmingham, Ala.

Atlanta-based SunTrust Bank agreed with the FDIC to act as a paying agent for insured deposits at Omni National Bank. As the agent, SunTrust will operate Omni National's six former branches until April 27 to cover regular banking activities and to help avoid any disruption of service for customers.

During the one-month transition period, depositors in Georgia and Florida can open an account with SunTrust or have their accounts closed and receive a check. Customers who do not choose either option during the that period will automatically be transferred to SunTrust.