One of the oldest financial institutions in Northeast Georgia, Habersham Bank, was seized by federal regulators Friday.
The bank, founded in 1904 in Clarkesville, operated eight branches including one each in Clarkesville, Cleveland, Cornelia and Flowery Branch.
The bank's former branch on Hwy. 20 in Forsyth County closed some time ago.
Assets from the failed bank were taken over at 5 p.m. by the Orangeburg, S.C.-based SCBT National Association, according to an SCBT news release.
Habersham Bank branches were scheduled to reopen Saturday during normal businesses hours as branches of Habersham Bank, a division of SCBT. Depositors at Habersham Bank are now depositors of SCBT.
All deposits are secure and insured by the FDIC, according to the release.