Regulators on Friday closed two North Georgia banks -- the 58th and 59th banks to be closed in the state since August 2008.

Bartow County Bankin Cartersville andNew Horizons Bankin East Ellijay were shuttered by the Georgia Department of Banking and Finance.

Hamilton State Bankof Hoschton acquired the four branches of Bartow County Bank and its $330.2 million in total assets and $304.1 million in total deposits. Hamilton State Bank entered into a loss-share agreement with theFederal Deposit Insurance Corp.on $247.5 million of Bartow County Bank's assets. The closure of Bartow County Bank will result in a cost of $69.5 million to the FDIC's Deposit Insurance Fund.

Read More: Atlanta Business Chronicle