Bank Failure
The Bank of Ellijay
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Closed September 17, 2010 · Ellijay, GA · FDIC Cert #58197.
- Closing date
- September 17, 2010
- Headquarters
- Ellijay, GA
- FDIC Certificate
- 58197
- Total assets at closing
- $168.8M
- Total deposits at closing
- $160.7M
- Estimated loss to the insurance fund
- $79.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community & Southern Bank
Context
On September 17, 2010, regulators closed The Bank of Ellijay, headquartered in Ellijay, GA. At closing, the institution held approximately $168.8M in assets and $160.7M in deposits. The FDIC record names Community & Southern Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $79.7M.
By assets at closing this is the 865th largest of the 3,526 bank failures in the FDIC record, and the 99th of 157 in 2010. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did The Bank of Ellijay fail?
The Bank of Ellijay was closed by regulators on September 17, 2010.
Who acquired The Bank of Ellijay?
The FDIC record names Community & Southern Bank as the acquiring institution in the resolution of The Bank of Ellijay.
How big was The Bank of Ellijay when it failed?
The Bank of Ellijay had approximately $168.8M in total assets and $160.7M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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