Senate leaders back banking chairman

ATLANTA - State Senate leaders are standing by the chairman of the chamber's banking committee, at least for now.

Jack Murphy was named by federal bank regulators in a lawsuit filed over a failed Alpharetta, Ga. bank.

In a statement released on Thursday, the Senate Committee on Assignments noted Murphy, a Republican from Cumming, has denied the allegations. The panel said it would be ``improper for anyone to rush to judgment based on mere allegations and without a determination of fact.''

The FDIC on Tuesday accused Murphy and seven other executives from Integrity Bank of gross negligence and breaching fiduciary duty. The FDIC seeks more than $70 million in damages for a series of loans made from 2005 to 2007.