Bank failure · GA
New Horizons Bank (East Ellijay, GA) — failed April 15, 2011
New Horizons Bank of East Ellijay, Georgia was closed on April 15, 2011 and resolved through a purchase and assumption. Citizens South Bank (NC) took over its insured deposits. At failure it held $103.1M in assets and $99.0M in deposits. The FDIC's estimated loss on the failure is $34.7M (33.7% of assets).
- Closing date
- April 15, 2011
- FDIC certificate #
- 57705
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citizens South Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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