3 GA banks get cease and desist orders

Federal regulators have served three small Georgia banks with “cease and desist” orders, the most serious type of enforcement action short of a failure, another sign that the state’s banking crisis is far from over.
Regulators said they believed the banks — The Bank of Georgia in Peachtree City, Mountain Heritage Bank of Clayton and Satilla Community Bank of St. Marys — were engaging in “unsafe and unsound” banking practices and ordered a host of reforms.