# FREEDOM BANK OF GEORGIA

> **Failed bank** · COMMERCE, GA · failed 2009-03-06 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $43M

## What happened

FREEDOM BANK OF GEORGIA of COMMERCE, GA was closed by regulators on **2009-03-06**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **NORTHEAST GEORGIA BANK** (LAVONIA, GA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3610
- **FDIC Certificate:** 57558
- **FDIC FIN:** 10044
- **Bank name:** FREEDOM BANK OF GEORGIA
- **Location:** COMMERCE, GA
- **Failure date:** 2009-03-06
- **FDIC resolution date:** 2009-03-06
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $43M
- **Deposits at failure:** $159M
- **Assets at failure:** $172M
- **Acquiring bank:** NORTHEAST GEORGIA BANK (LAVONIA, GA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FREEDOM%20BANK%20OF%20GEORGIA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FREEDOM BANK OF GEORGIA (FDIC ID 3610), failed 2009-03-06. Retrieved via AI Analytics 2026-05-25 from https://api.ai-analytics.org/failed-bank/3610.

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