THE COMMUNITY BANK Failed 2008
What happened
THE COMMUNITY BANK of LOGANVILLE, GA was closed on 2008-11-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF ESSEX (TAPPAHANNOCK, VA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3575
- FDIC Certificate
- 16490
- FDIC FIN
- 10022
- Bank name
- THE COMMUNITY BANK
- Location
- LOGANVILLE, GA
- Failure date
- 2008-11-21
- FDIC resolution date
- 2008-11-21
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $335M
- Deposits at failure
- $604M
- Assets at failure
- $635M
- Acquiring bank
- BANK OF ESSEX (TAPPAHANNOCK, VA)
Other banks BANK OF ESSEX acquired in FDIC resolutions