Integrity Bank, based in Alpharetta, Georgia, was closed on Friday August 29, 2008 by the Georgia Department of Banking and Finance. The bank relied heavily on real estate lending and is the 10th banking institution to fail this year.

Regions Bank of Birmingham, Alabama will assume Integrity's 23,000 accounts with $974 million dollars worth of insured and uninsured deposits and over $34 million of the banks assets. The FDIC will retain the remainder of Integrity Bank's assets.

Integrity bank will open as usual on Tuesday, as Monday is a Federal Holiday, under the Regions Bank name. Online access and ATM services aren't disrupted as the bank transitions. Customer checks will also be honored, as long as their bank account has sufficient funds. There was no advance notice given of Region Banks' failure.

Integrity bank was founded in a single location in November, 2001. The banking institution had five locations at the time of it's closure.

A slogan at the bank's website reads,Integrity is the foundation of our personal and business practice, but obviously that 'integrity' was compromised in an effort to lend out cash.

Integrity banking customers with questions about Federal deposit insurance can call 1-800-523-0640 for more information.

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