FIRST COWETA Failed 2009
What happened
FIRST COWETA of NEWNAN, GA was closed on 2009-08-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNITED BANK (ZEBULON, GA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3674
- FDIC Certificate
- 57702
- FDIC FIN
- 10108
- Bank name
- FIRST COWETA
- Location
- NEWNAN, GA
- Failure date
- 2009-08-21
- FDIC resolution date
- 2009-08-21
- 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.)
- $67M
- Deposits at failure
- $155M
- Assets at failure
- $164M
- Acquiring bank
- UNITED BANK (ZEBULON, GA)
Other banks UNITED BANK acquired in FDIC resolutions