Federal regulators have seized the Omni National Bank of Atlanta. It has become the 21st bank in 2009 to fail. As the recession began, it has become the 46th bank in the list to fail. Six former branches of Omni National Bank will be operated by the Sun Trust Bank of Atlanta until April 27. This closure has caused the highest unemployment in a quarter century.
The status of the bank on March 09 was that it was containing $956 million in assets and in deposits $796.8 million. It was shut by the Office of Comptroller of Currency and Federal Deposit Insurance Corporation (FDIC). FDIC has further announced that Omni’s six branches will be controlled by SunTrust Banks Incorporation of Atlanta.
