NEW HORIZONS BANK Failed 2011
What happened
NEW HORIZONS BANK of EAST ELLIJAY, GA was closed on 2011-04-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS SOUTH BANK (GASTONIA, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3924
- FDIC Certificate
- 57705
- FDIC FIN
- 10355
- Bank name
- NEW HORIZONS BANK
- Location
- EAST ELLIJAY, GA
- Failure date
- 2011-04-15
- FDIC resolution date
- 2011-04-15
- 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.)
- $35M
- Deposits at failure
- $99M
- Assets at failure
- $103M
- Acquiring bank
- CITIZENS SOUTH BANK (GASTONIA, NC)
Other banks CITIZENS SOUTH BANK acquired in FDIC resolutions