COMMUNITY BANK & TRUST Failed 2010

CORNELIA, GA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

COMMUNITY BANK & TRUST of CORNELIA, GA was closed on 2010-01-29. The FDIC was named receiver.

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

Deposits were transferred to SCBT, NATIONAL ASSOCIATION (ORANGEBURG, SC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3744
FDIC Certificate
5702
FDIC FIN
10180
Bank name
COMMUNITY BANK & TRUST
Location
CORNELIA, GA
Failure date
2010-01-29
FDIC resolution date
2010-01-29
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.)
$477M
Deposits at failure
$1,068M
Assets at failure
$1,182M
Acquiring bank
SCBT, NATIONAL ASSOCIATION (ORANGEBURG, SC)