Friday, October 02, 2015

Bank Failure #7 in 2015: Bank of Georgia, Peachtree City, Georgia

by Bill McBride on 10/02/2015 05:43:00 PM

It has been some time since a bank failed ...

From the FDIC: Fidelity Bank, Atlanta, Georgia, Assumes All of the Deposits of the Bank of Georgia, Peachtree City, Georgia

As of June 30, 2015, The Bank of Georgia had approximately $294.2 million in total assets and $280.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $23.2 million. ... The Bank of Georgia is the seventh FDIC-insured institution to fail in the nation this year, and the second in Georgia.