CREEKSIDE BANK Failed 2011
What happened
CREEKSIDE BANK of WOODSTOCK, GA was closed on 2011-09-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GEORGIA COMMERCE BANK (ATLANTA, GA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3959
- FDIC Certificate
- 58226
- FDIC FIN
- 10393
- Bank name
- CREEKSIDE BANK
- Location
- WOODSTOCK, GA
- Failure date
- 2011-09-02
- FDIC resolution date
- 2011-09-02
- 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.)
- $34M
- Deposits at failure
- $97M
- Assets at failure
- $102M
- Acquiring bank
- GEORGIA COMMERCE BANK (ATLANTA, GA)
- FDIC comments
- Unexpected difference between PO_COST and RESCOST is that it was a linked bid. Across the linked bids, RESCOST<PO_COST
Other banks GEORGIA COMMERCE BANK acquired in FDIC resolutions