FIs closed: One Georgia Bank, Atlanta, Georgia, USA and High Trust Bank, Stockbridge, Georgia, USA
1) On Friday, 15 July, 2011, One Georgia Bank, Atlanta, Georgia was closed by the State of Georgia Department of Banking & Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
2) On Friday, 15 July, 2011, High Trust Bank, Stockbridge, Georgia was closed by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
Ameris Bank, Moultrie, Georgia, acquired the banking operations, including all the deposits, of High Trust Bank, Stockbridge, Georgia, and One Georgia Bank, Atlanta, Georgia. The two banks were closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for each institution.
To protect depositors, the FDIC entered into purchase and assumption agreements with Ameris Bank.
All three branches of the two closed banks will reopen during their normal business hours beginning Saturday 16 July 2011 as branches of Ameris Bank.
As of 31 March, 2011, High Trust Bank had total assets of USD192.5 million and total deposits of USd189.5 million; One Georgia Bank had total assets of USD186.3 million and total deposits of USD162.1 million.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for High Trust Bank will be USD66.0 million and for One Georgia Bank, USD44.4 million.
The closings are the 52nd and 53rd FDIC-insured institutions to fail in the USA so far this year and the fifteenth and sixteenth in Georgia.
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