Bank failure · GA
Citizens Bank of Effingham (Springfield, GA) — failed February 18, 2011
Citizens Bank of Effingham of Springfield, Georgia was closed on February 18, 2011 and resolved through a purchase and assumption. Heritage Bank of the South (GA) took over its insured deposits. At failure it held $214.3M in assets and $206.5M in deposits. The FDIC's estimated loss on the failure is $48.2M (22.5% of assets).
- Closing date
- February 18, 2011
- FDIC certificate #
- 34601
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Heritage Bank of the South
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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