Bank failure · GA
Security Bank of Gwinnett County (Suwannee, GA) — failed July 24, 2009
Security Bank of Gwinnett County of Suwannee, Georgia was closed on July 24, 2009 and resolved through a purchase and assumption. State Bank and Trust Company (GA) took over its insured deposits. At failure it held $259.2M in assets and $256.6M in deposits. The FDIC's estimated loss on the failure is $193.4M (74.6% of assets).
- Closing date
- July 24, 2009
- FDIC certificate #
- 57346
- 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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