NORTH GEORGIA BANK Failed 2011

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

What happened

NORTH GEORGIA BANK of WATKINSVILLE, GA was closed on 2011-02-04. The FDIC was named receiver.

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

Deposits were transferred to BANKSOUTH (GREENSBORO, GA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3902
FDIC Certificate
35242
FDIC FIN
10338
Bank name
NORTH GEORGIA BANK
Location
WATKINSVILLE, GA
Failure date
2011-02-04
FDIC resolution date
2011-02-04
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.)
$48M
Deposits at failure
$140M
Assets at failure
$153M
Acquiring bank
BANKSOUTH (GREENSBORO, GA)