UPDATE 1-Small Georgia bank 20th to fail this year

(Adds FDIC quote)

WASHINGTON, Nov 21 (Reuters) - A small Georgia bank on
Friday became the 20th U.S. bank failure this year, costing the
government's insurance program at least $200 million, the U.S.
Federal Deposit Insurance Corp. said.

State regulators closed Community Bank in Loganville,
Georgia, which had total assets of $681 million and total
deposits of $611.4 million on Oct. 17, the FDIC said.

The bank's four branches will reopen on Monday under the
ownership of Bank of Essex, based in Tappahannock, Virginia.
Customers can access their money over the weekend by check,
teller machine or debit card, the FDIC said.

Bank of Essex bought about $84.4 million of Community
Bank's assets, and paid the FDIC a premium of $3.2 million for
the right to assume the failed bank's deposits. The FDIC will
keep the remaining assets for later sale or disposition.

"Deposits will continue to be insured by the FDIC, so there
is no need for customers to change their banking relationship
to retain their deposit insurance coverage," the FDIC said in a
statement.
(Reporting by Julie Vorman; Editing by Leslie Gevirtz)