Failure of RockBridge Commercial Bank, Atlanta, Georgia
From the FDIC (emphasis added):
The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. The bank was closed today by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver.
The FDIC was unable to find another financial institution to take over the banking operations of RockBridge Commercial Bank. As a result, checks to the retail depositors for their insured funds will be mailed on Monday. Brokered deposits will be wired once brokers provide the FDIC with the necessary documents to determine if any of their clients exceed the insurance limits. Customers who placed money with brokers should contact them directly for more information about the status of their funds.
As of September 30, 2009, RockBridge Commercial Bank had approximately $294.0 million in total assets and $291.7 million in total deposits. At the time of closing, the bank had an estimated $2.1 million in uninsured funds. This amount is an estimate that is likely to change once the FDIC obtains additional information from these customers.
This makes failure #134 this year, 25 in the state of Georgia alone.
About Edward Harrison
- Here’s bank failure 47: First State Bank of Winchester 2 Jul 2009
- Georgia bank fails with $1.1 billion in assets 29 Aug 2008
- Bank failures in Georgia crushing small business and home owners 3 Dec 2009
- Large US bank failure coming 19 Aug 2008
- Industrial & Commercial Bank of China 30 Jun 2008
I thought this said RockRidge Bank for a second. I must have seen that movie a dozen times if I’ve seen it once. Hilarious. Mel Brook’s finest hour (tho The Producers runs it close).
Funny. And good to hear from you.