FIRST GEORGIA BANKING COMPANY Failed 2011
What happened
FIRST GEORGIA BANKING COMPANY of FRANKLIN, GA was closed on 2011-05-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CERTUS BANK, N.A. (EASLEY, SC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3933
- FDIC Certificate
- 57647
- FDIC FIN
- 10366
- Bank name
- FIRST GEORGIA BANKING COMPANY
- Location
- FRANKLIN, GA
- Failure date
- 2011-05-20
- FDIC resolution date
- 2011-05-20
- 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.)
- $135M
- Deposits at failure
- $702M
- Assets at failure
- $731M
- Acquiring bank
- CERTUS BANK, N.A. (EASLEY, SC)
Other banks CERTUS BANK, N.A. acquired in FDIC resolutions