SOUTHERN COMMUNITY BANK Failed 2009
What happened
SOUTHERN COMMUNITY BANK of FAYETTEVILLE, GA was closed on 2009-06-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNITED COMMUNITY BANK (BLAIRSVILLE, GA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3633
- FDIC Certificate
- 35251
- FDIC FIN
- 10067
- Bank name
- SOUTHERN COMMUNITY BANK
- Location
- FAYETTEVILLE, GA
- Failure date
- 2009-06-19
- FDIC resolution date
- 2009-06-19
- 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.)
- $137M
- Deposits at failure
- $298M
- Assets at failure
- $372M
- Acquiring bank
- UNITED COMMUNITY BANK (BLAIRSVILLE, GA)
Other banks UNITED COMMUNITY BANK acquired in FDIC resolutions