Bank’s Seizure Raises Scrutiny
Press release from the issuing company
Monday, July 12th, 2010
The failure of McIntosh Commercial Bank last spring prompted one prominent shareholder — U.S. Rep. Paul C. Broun (R-Ga.) — to recently complain that federal regulators were being overzealous in closing banks.
But regulators, banking experts and the top executive at the institution that picked up the Carrollton-based bank’s pieces say the reasons behind McIntosh Commercial Bank’s crash were all-too-similar to those that brought down dozens of other Georgia banks since 2008.
