From the FDIC:
Hometown Community Bank, Braselton, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CertusBank, National Association, Easley, South Carolina, to assume all of the deposits of Hometown Community Bank.
The two branches of Hometown Community Bank will reopen on Saturday as branches of CertusBank, N.A. […]
As of September 30, 2012, Hometown Community Bank had approximately $124.6 million in total assets and $108.9 million in total deposits. In addition to assuming all of the deposits of the failed bank, CertusBank, N.A. agreed to purchase essentially all of the assets. […]
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million. Compared to other alternatives, CertusBank, N.A.’s acquisition was the least costly resolution for the FDIC’s DIF. Hometown Community Bank is the 50th FDIC-insured institution to fail in the nation this year, and the tenth in Georgia. The last FDIC-insured institution closed in the state was Jasper Banking Company, Jasper, on July 27, 2012.
Braselton straddles Jackson, Hall, Gwinnett, and Barrow counties. The population was just over 7500 in 2010, but that’s up dramatically from 1200 in 2000.
As home prices have stabilized and even risen, and as banks have made bold moves to deal with troubled loans, the FDIC has been much less active. Twenty-three Georgia banks failed in 2011 — far more than the 10 that have failed in 2012.
But there are still dozens of Georgia banks on the updated version of the unofficial problem bank list.