7 out of 8 receiverships FDIC poised to end are in Georgia

Eight bank receiverships – one involving a bank in Arizona, the other seven in Georgia – are slated for termination soon by the Federal Deposit Insurance Corp. (FDIC), the agency said in a notice set to publish Thursday in the Federal Register.

“To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors,” the notice states.

The FDIC said the receiverships will be terminated within 30 days of the notice; anyone with comments should get those in within this period to Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Department 34.6, 1601 Bryan Street, Dallas, TX 75201.

The eight receiverships being terminated are for the following:

  • Copper Star Bank, Scottsdale, Ariz. (closed in November 2010);
  • Tifton Banking Company, Tifton, Ga. (closed in November 2010);
  • Appalachian Community Bank, McCaysville, Ga. (closed in December 2010);
  • Bartow County Bank, Cartersville, Ga. (closed in April 2011);
  • McIntosh State Bank, Jackson, Ga. (closed in June 2011);
  • High Trust Bank, Stockbridge, Ga. (closed in July 2011);
  • Central Bank of Georgia, Ellaville, Ga. (closed in February 2012);
  • Douglas County Bank, Douglasville, Ga. (closed in April 2013).

Notice of intent to terminate receiverships