Easley bank takes over closed Georgia bank
Hometown Community Bank of Braselton, Georgia has been closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Easley, South Carolina’s Certus Bank to assume all deposits of Hometown Community Bank. According to the announcement by the Federal Deposit Insurance Corporation, the two branches of Hometown Community were to reopen Saturday as branches of Certus Bank, National Association. Depositors of Hometown Community automatically become depositors of Certus. By September 30, 2012, Hometown Community Bank had about $124.6 million in total assets and $108.9 million in total deposits. The FDIC estimates that the cost to its fund will be $36.7 million.