Bank failure · GA
North Georgia Bank (Watkinsville, GA) — failed February 4, 2011
North Georgia Bank of Watkinsville, Georgia was closed on February 4, 2011 and resolved through a purchase and assumption. Banksouth (GA) took over its insured deposits. At failure it held $153.2M in assets and $139.7M in deposits. The FDIC's estimated loss on the failure is $48.2M (31.4% of assets).
- Closing date
- February 4, 2011
- FDIC certificate #
- 35242
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- BankSouth
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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