Synergy Resolution, operated by a group of real estate veterans,works to help banks resolve non-performing real estate assets. Itsprincipals have extensive experience in the development of homes,lots and commercial properties, and have resolved billions ofdollars in real estate debt.

"We're happy to do the work and let the banks do what they do,"Randy Herron, a Synergy Resolution principal, tells GlobeSt.com.The group has at least five other deals in the works, he says, andis getting interest from other banks looking to clean up theirbalance sheets, especially since October's unraveling of financialmarkets.

Herron describes the selling bank as a "community bank" in theAtlanta metropolitan area, but is not allowed to disclose itsidentity. He did say, however, that the bank is not among threeothers within the local suburbs that have failed in recent months:Integrity Bank and Alpha Bank & Trust, both in Alpharetta, andCommunity Bank of Loganville.