Bank failure · GA

Freedom Bank of Georgia (Commerce, GA) — failed March 6, 2009

Freedom Bank of Georgia of Commerce, Georgia was closed on March 6, 2009 and resolved through a purchase and assumption. Northeast Georgia Bank (GA) took over its insured deposits. At failure it held $172.5M in assets and $159.0M in deposits. The FDIC's estimated loss on the failure is $43.3M (25.1% of assets).