The Bank of Georgia Closed By Regulators – 7th Bank Failure of 2015

After almost a three month hiatus of bank failures, regulators closed The Bank of Georgia, Peachtree City, Georgia.  Fulfilling one of its primary roles as guarantor of depositor funds, the FDIC sold the failed bank to Fidelity Bank, Atlanta, GA, which will assume all of the deposits of The Bank of Georgia. Established in February 2000 by […]

Security Exchange Bank, Marietta, GA, Fails After Loan Defaults Soar

Security Exchange Bank, Marietta, GA, a locally owned community bank headquartered in Marietta, GA, was closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, sold the failed Bank to Fidelity Bank, Atlanta, GA. Both branches of the failed Bank will reopen on Monday as branches of Fidelity Bank and […]

Fidelity Bank of Michigan Closed By Regulators, Sold To The Huntington National Bank

Fidelity Bank of Dearborn, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation which appointed the FDIC as receiver. Fidelity Bank, owned by holding company parent Dearborn Bancorp, Inc. was established in 1994 and had a total of 15  branches.  According to the failed Bank’s website, Fidelity Bank is the only […]

Decatur First Bank of Georgia Becomes 21st Banking Failure In Georgia

Decatur First Bank, Decatur, Georgia, became the 21st bank to fail in Georgia this year.  Georgia leads the nation in banking failures, accounting for 26% of all failed banks during 2011.  A second Georgia bank, Community Capital Bank of Jonesboro, was also closed by regulators today.  Georgia accounts for 22 of the nation’s 84 banking […]