Montgomery Bank & Trust, Georgia, Closed By Regulators

Montgomery Bank & Trust, a long time presence in Ailey, Georgia, was closed today by the Georgia Department of Banking and Finance.  Montgomery Bank and Trust, which had been in business since 1926, became insolvent after a large amount of borrowers defaulted on their loans. The FDIC was appointed as receiver and sold the failed […]

Central Bank of Georgia Fails After Serving Public For 102 Years

Any bank that can last for 102 years deserves special recognition for surviving business panics, stock market crashes, world wars and economic depressions.  The Central Bank of Georgia, Ellaville, GA, is in this category, having been established on September 16, 1910 and surviving until today when the Georgia Department of Banking and Finance closed the […]

One Georgia Bank of Atlanta Fails, Sold To Bank With Outstanding TARP Loans

One Georgia Bank of Atlanta, Georgia, a $186 million dollar asset bank, was closed today by the Georgia Department of Banking and Finance.  The FDIC, acting as receiver, sold the failed bank to Ameris Bank. One Georgia Bank has been effectively insolvent since late last year with a troubled asset ratio of 350% which is […]