First Georgia Community Bank of Jackson, Georgia was closed by the regulators today.

FromMarketWatch:

The four branches of Jackson, Ga.-based First Georgia will re-open Saturday as United Bank, which has assumed First Georgia’s deposits, the Federal Deposit Insurance Corp. said in a statement.

United Bank agreed to assume the deposits for a 0.811 premium, the FDIC said, and it will purchase roughly $60.6 million of First Georgia’s assets.

As of Nov. 7, First Georgia had $237.5 million in assets and $197.4 million in deposits, the FDIC said.

The FDIC estimated the closure will cost its Deposit Insurance Fund $72.2 million.