Regulators Close Another Top 40

34th ranked, Mountain Heritage Bank of Clayton, Georgia, was closed today. Deposits of the bank were acquired by First American Bank and Trust Company (1271th) of Athens, Georgia. Mountain Heritage Bank had approximately $103.7 million in total assets and $89.6 million in total deposits at the time of failure. First American Bank and Trust Company also entered into a loss-share transaction with the FDIC on $69.2 million of Mountain Heritage Bank's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.1 million.