The Federal Deposit Insurance Corporation (FDIC) took over 4 banks on Friday, August 21, 2009. These closings bring the total for the year to 81. The banks closed are located in Alabama, Georgia, and Texas. The banks include Guaranty Bank, Austin, Texas, CapitalSouth Bank, Birmingham, Alabama, First Coweta Bank, Newnan, Georgia, and ebank, Atlanta, Georgia.
Details for each bank are included below for affected customers:Guaranty Bank, Austin, Texas
Guaranty Bank, Austin, TX was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with BBVA Compass, Birmingham, Alabama, to assume all of the deposits of Guaranty Bank, excluding those from brokers. Guaranty Bank had 103 branches in Texas and 59 branches in California. Former branches of Guaranty Bank will reopen during normal banking hours starting tomorrow as branches of BBVA Compass. Depositors of Guaranty Bank will automatically become depositors of BBVA Compass.
CapitalSouth Bank, Birmingham, Alabama
CapitalSouth Bank, Birmingham, Alabama, was closed today by the Alabama State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of CapitalSouth Bank, excluding those from brokers. The ten branches of CapitalSouth Bank will reopen on Monday as branches of IBERIABANK. Depositors of CapitalSouth Bank will automatically become depositors of IBERIABANK.
First Coweta Bank, Newnan, Georgia
First Coweta, Newnan, Georgia was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Bank, Zebulon, Georgia, to assume all of the deposits of First Coweta, excluding those from brokers. The four branches of First Coweta will reopen on Saturday as branches of United Bank. Depositors of First Coweta will automatically become depositors of United Bank.
ebank, Atlanta, Georgia
ebank, Atlanta, Georgia, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of ebank. The sole branch of ebank will reopen on Monday as a branch of Stearns Bank, N.A. Depositors of ebank will automatically become depositors of Stearns Bank, N.A.
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