The Buckhead Community Bank of Atlanta, which has branches in Gainesville and Cumming, failed Friday, according to the Federal Deposit Insurance Corp.’s Web site.
Hall Community Bank in Gainesville and the Forsyth Community Bank in Cumming are subsidiaries of the failed bank, which has $874 million in assets and $838 million in deposits.
The FDIC also took over First Security National Bank, based in Norcross, on Friday. First Security has $128 million in assets and $123 million in deposits.
State Bank and Trust Co., based in Macon, agreed to assume the deposits and assets of Buckhead Community Bank as well as the deposits and about $118 million of the assets of First Security National Bank.
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.
Customers who have questions can call the FDIC toll-free at 1-800-405-8028. The phone number will be operational until 9 p.m. Friday, from 9 a.m. to 6 p.m. Saturday and from noon to 6 p.m. Sunday, thereafter from 8 a.m. to 8 p.m.Interested parties can also visit the FDIC’s Web site.
The Associated Press contributed to this report.