Regulators from the Federal Deposit Insurance Corporation closed two banks in Georgia on Friday, bringing the number of bank failures in the United States this year to 126.

A total of $961 million in deposits were shared by Buckhead Community Bank and First Security National Bank in Atlanta and Norcross, respectively. State Bank and Trust Co. of Macon has agreed to assume the deposits and assets of both failed institutions.

The FDIC and State Bank and Trust Co. will share the combined losses of about $744 million. The failures will cost the FDIC fund several hundred million dollars.

All six branches of Buckhead Community Bank will reopen during normal business hours as branches of State Bank. The same goes for the four branches of First Security National.

Twenty-three banks have failed in Georgia alone this year. Meanwhile, unemployment remains in the double-digits and consumer spending in the retail sector was down for November. But let’s all sing, “Happy Days are Here Again”.