Bank failure · GA

Netbank (Alpharetta, GA) — failed September 28, 2007

Netbank of Alpharetta, Georgia was closed on September 28, 2007 and resolved through a purchase and assumption (insured deposits). Ing Bank, FSB (DE) took over its insured deposits. At failure it held $2.5B in assets and $2.3B in deposits. The FDIC's estimated loss on the failure is $119.6M (4.8% of assets).