Jasper-based bank latest to fail in Georgia

JASPER- Crescent Bank and Trust is the latest Georgia bank to be seized by federal regulators.

Jasper-based Crescent, which has approximately $1 billion in assets, is the tenth bank failure for Georgia this year, and the 40th for the state since the recession began. Georgia leads the nation in bank closures.

The FDIC says Mississippi-based Renasant Bank will assume Crescent's assets and deposits. Crescent has branches in Bartow, Cherokee, Cobb, Forsyth, Fulton and Pickens counties.