Bank failure · GA

First Coweta (Newnan, GA) — failed August 21, 2009

First Coweta of Newnan, Georgia was closed on August 21, 2009 and resolved through a purchase and assumption. United Bank (GA) took over its insured deposits. At failure it held $163.8M in assets and $154.9M in deposits. The FDIC's estimated loss on the failure is $66.7M (40.7% of assets).