Bank failure · GA
Southern Community Bank (Fayetteville, GA) — failed June 19, 2009
Southern Community Bank of Fayetteville, Georgia was closed on June 19, 2009 and resolved through a purchase and assumption. United Community Bank (GA) took over its insured deposits. At failure it held $371.7M in assets and $298.0M in deposits. The FDIC's estimated loss on the failure is $136.6M (36.8% of assets).
- Closing date
- June 19, 2009
- FDIC certificate #
- 35251
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- United Community Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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