Lawsuit over failed Sandy Springs bank

ATLANTA - Federal regulators have filed a lawsuit over the collapse of a Sandy Springs bank, accusing its leaders of taking "unreasonable risks" while running the institution.

RockBridge Commercial Bank opened in 2006 and raised $36 million in cash; it failed just three years later.

The Federal Deposit Insurance Corp. said bank officials aggressively pursued a strategy that involved high-risk lending, including loans for out-of-market real estate development and corporate jets.

Regulators added that bank officials failed to heed warnings about poor internal controls and loan vetting.

Attorney Mary Gill, who represents the bank officials, said that her clients are disappointed the FDIC filed what she described as a "meritless" lawsuit.