The story
On April 24, 2009, Georgia Department of Banking and Finance shut down American Southern Bank, marking the 26th bank failure of 2009 in the United States, and the 51st since the beginning of the recession, as the credit crunch continued to spread through the economy. Bank of North Georgia of Alpharetta, Georgia, assumed all of the deposits. As of March 30, 2009, American Southern Bank had assets of about $112.3 million and total deposits of $104.3 million.
From Wikipedia’s article on American Southern Bank, shared under CC BY-SA 4.0.3