The federal insurer of bank deposits on Oct. 1 terminated the receiverships of Freedom Bank of Georgia (Commerce, Ga.) and Valley Bank (Fort Lauderdale, Fla.), according to a Federal Register notice published Friday.
The two banks were closed in March 2009 and June 2014. The Federal Deposit Insurance Corp. (FDIC), as receiver, “was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets,” the notice states. “The Receiver has fulfilled its obligations and made all dividend distributions required by law.”