FIRST NATIONAL BANK OF GEORGIA Failed 2010

What happened

FIRST NATIONAL BANK OF GEORGIA of CARROLLTON, 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 COMMUNITY & SOUTHERN BANK (CARROLLTON, GA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3746

FDIC Certificate

16480

FDIC FIN

10179

Bank name

FIRST NATIONAL BANK OF GEORGIA

Location

CARROLLTON, GA

Failure date

2010-01-29

FDIC resolution date

2010-01-29

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$204M

Deposits at failure

$780M

Assets at failure

$841M

Acquiring bank

COMMUNITY & SOUTHERN BANK (CARROLLTON, GA)

Other banks COMMUNITY & SOUTHERN BANK acquired in FDIC resolutions

• EASTSIDE COMMERCIAL BANK (CONYERS, GA) — failed 2014-07-18
• GEORGIA TRUST BANK (BUFORD, GA) — failed 2012-07-20
• FIRST CHEROKEE STATE BANK (WOODSTOCK, GA) — failed 2012-07-20
• THE BANK OF ELLIJAY (ELLIJAY, GA) — failed 2010-09-17
• FIRST COMMERCE COMMUNITY BANK (DOUGLASVILLE, GA) — failed 2010-09-17
• THE PEOPLES BANK (WINDER, GA) — failed 2010-09-17
• APPALACHIAN COMMUNITY BANK (ELLIJAY, GA) — failed 2010-03-19