Bank failure · GA

First National Bank (Savannah, GA) — failed June 25, 2010

First National Bank of Savannah, Georgia was closed on June 25, 2010 and resolved through a purchase and assumption. The Savannah Bank, National Association (GA) took over its insured deposits. At failure it held $252.5M in assets and $231.9M in deposits. The FDIC's estimated loss on the failure is $78.2M (31.0% of assets).