THE BANK OF ELLIJAY Failed 2010

What happened

THE BANK OF ELLIJAY of ELLIJAY, GA was closed on 2010-09-17. 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

3858

FDIC Certificate

58197

FDIC FIN

10287

Bank name

THE BANK OF ELLIJAY

Location

ELLIJAY, GA

Failure date

2010-09-17

FDIC resolution date

2010-09-17

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.)

$80M

Deposits at failure

$161M

Assets at failure

$169M

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
• 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
• FIRST NATIONAL BANK OF GEORGIA (CARROLLTON, GA) — failed 2010-01-29