Hometown Community Bank in Braselton was closed Friday by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver.
CertusBank, National Association, headquartered in Easley, S.C., is assuming the deposits of Hometown Community Bank.
As of Sept. 30, 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 agreed to purchase essentially all of the assets.
“I hate it for the community and especially for our shareholders who had confidence in us,” said Martha Martin, a member of the Hometown Community Bank Board of Directors. “What other bank supports our Chamber of Commerce and other organizations throughout our community as much as Hometown Community Bank did?”
Hometown was added to the Official Problem Bank List with a consent order being entered in April. It is the 50th FDIC-insured institution to fail in the nation this year, and the 10th in Georgia.
FDIC entered into a purchase and assumption agreement with CertusBank. The two branches of Hometown Community Bank will reopen today as branches of CertusBank, N.A.
Depositors of Hometown Community Bank will automatically become depositors of CertusBank, and deposits will continue to be insured by the FDIC.
The branches are at Ga. 53 in Braselton and the Traditions Walk development along Ga. 124 in Hoschton.
Depositors of Hometown Community Bank can access their money by writing checks or using ATM or debit cards.
Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Customers with questions can call the FDIC at 1-800-830-4725 or visit www.fdic.gov.
CertusBank has locations in Jefferson, the Commerce-Homer area and the Athens-Bogart area.