Bank failure · GA
Piedmont Community Bank (Gray, GA) — failed October 14, 2011
Piedmont Community Bank of Gray, Georgia was closed on October 14, 2011 and resolved through a purchase and assumption. State Bank and Trust Company (GA) took over its insured deposits. At failure it held $199.0M in assets and $178.8M in deposits. The FDIC's estimated loss on the failure is $88.2M (44.3% of assets).
- Closing date
- October 14, 2011
- FDIC certificate #
- 57256
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- State Bank and Trust Company
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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