Bank failure · GA

First Cherokee State Bank (Woodstock, GA) — failed July 20, 2012

First Cherokee State Bank of Woodstock, Georgia was closed on July 20, 2012 and resolved through a purchase and assumption. Community & Southern Bank (GA) took over its insured deposits. At failure it held $209.0M in assets and $182.1M in deposits. The FDIC's estimated loss on the failure is $36.2M (17.3% of assets).