Bank Failure
The Bank of Georgia
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Closed October 2, 2015 · Peachtree City, GA · FDIC Cert #35259.
- Closing date
- October 2, 2015
- Headquarters
- Peachtree City, GA
- FDIC Certificate
- 35259
- Total assets at closing
- $286.1M
- Total deposits at closing
- $264.2M
- Estimated loss to the insurance fund
- $27.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Fidelity Bank
Context
On October 2, 2015, regulators closed The Bank of Georgia, headquartered in Peachtree City, GA. At closing, the institution held approximately $286.1M in assets and $264.2M in deposits. The FDIC record names Fidelity Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $27.8M.
By assets at closing this is the 578th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 8 in 2015. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
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 Georgia fail?
The Bank of Georgia was closed by regulators on October 2, 2015.
Who acquired The Bank of Georgia?
The FDIC record names Fidelity Bank as the acquiring institution in the resolution of The Bank of Georgia.
How big was The Bank of Georgia when it failed?
The Bank of Georgia had approximately $286.1M in total assets and $264.2M in deposits at the time of failure.
Other failures in 2015
| Date | Bank | Assets |
|---|---|---|
| Oct 2, 2015 | Hometown National Bank | $3.8M |
| Jul 10, 2015 | Premier Bank | $26.8M |
| May 8, 2015 | Edgebrook Bank | $90.0M |
| Feb 27, 2015 | Doral Bank | $5.90B |
| Feb 13, 2015 | Capitol City Bank & Trust Company | $272.3M |
| Jan 23, 2015 | Highland Community Bank | $54.7M |
| Jan 16, 2015 | First National Bank of Crestview | $73.8M |
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