Total number of bank failures has increased to 43 after three more banks joined the list of failures on Friday. The list of failures includes Summit Bank and two Georgia Banks.

Atlantic Southern Bank of Macon was closed by The Georgia Department of Banking and Finance. The bank had total assets worth $741.9 million and deposits of $707.6 million. The second bank which was closed on Friday is First Georgia Banking Company of Franklin.

The Georgia Department of Banking had appointed The Federal Deposit Insurance Corp. as receiver and both the institutions were sold to CertusBank, NA, of Easley, S. C. The failed banks' 26 offices will be reopened during normal business hours as branches of CertusBank.

Summit Bank of Burlington, Washington was the third bank to join the list of failures. The bank was closed by the state regulators and had 142.7 million in total assets and $131.6 million in deposits. The Federal Deposit insurance corp. was appointed as the receiver and the bank was sold to Columbia State Bank of Tacoma, Washington for a premium of 0.75%.