Bank failure · GA
Bank of Hiawassee (Hiawassee, GA) — failed March 19, 2010
Bank of Hiawassee of Hiawassee, Georgia was closed on March 19, 2010 and resolved through a purchase and assumption. Citizens South Bank (NC) took over its insured deposits. At failure it held $377.8M in assets and $339.6M in deposits. The FDIC's estimated loss on the failure is $107.3M (28.4% of assets).
- Closing date
- March 19, 2010
- FDIC certificate #
- 10054
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citizens South Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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