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FDIC takes over failed Buckhead Community Bank
Subsidiaries in Forsyth, Hall counties affected by move
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Forsyth County News

* Customers who have questions can call the FDIC at (800) 405-8028.

* The phone number will be operational from 9 a.m. to 6 p.m. Saturday, noon to 6 p.m. Sunday and 8 a.m. to 8 p.m. Monday through Friday.

* Interested parties also can visit the FDIC’s Web site at

The state's continuing bank crisis hit Forsyth County on Friday as federal officials seized the assets of Buckhead Community Bank of Atlanta and Norcross-based First Security National Bank.

According to the Federal Deposit Insurance Corp.’s Web site, all six of the Buckhead Community Bank’s branches, including Forsyth Community Bank in Cumming and Hall Community Bank in Gainesville, will be acquired by State Bank and Trust Co. in Macon.

Depositors of Buckhead Community Bank will automatically become depositors of State Bank and Trust Co., and those deposits will continue to be insured by the FDIC, according to a news release.

The failed bank has $874 million in assets and $838 million in deposits.

Also Friday, the FDIC took over Norcross-based First Security National Bank, which has a branch at Vickery Village.

First Security has $128 million in assets and $123 million in deposits.

State Bank and Trust Co. also agreed to assume the deposits and about $118 million of the assets of First Security.

The two failed banks bring to 126 the number of U.S. bank failures this year in a climate of economic struggle and deepening loan defaults. Nearly 30 banks have been shut down in Georgia since 2008.