PATRIOT BANK OF GEORGIA Failed 2011
What happened
PATRIOT BANK OF GEORGIA of CUMMING, 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
- 3960
- FDIC Certificate
- 58273
- FDIC FIN
- 10394
- Bank name
- PATRIOT BANK OF GEORGIA
- Location
- CUMMING, 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.)
- $54M
- Deposits at failure
- $141M
- Assets at failure
- $151M
- Acquiring bank
- GEORGIA COMMERCE BANK (ATLANTA, GA)
Other banks GEORGIA COMMERCE BANK acquired in FDIC resolutions