Bank failure · GA
Patriot Bank of Georgia (Cumming, GA) — failed September 2, 2011
Patriot Bank of Georgia of Cumming, Georgia was closed on September 2, 2011 and resolved through a purchase and assumption. Georgia Commerce Bank (GA) took over its insured deposits. At failure it held $150.8M in assets and $140.6M in deposits. The FDIC's estimated loss on the failure is $54.2M (36.0% of assets).
- Closing date
- September 2, 2011
- FDIC certificate #
- 58273
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Georgia Commerce Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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