Each depositor insured to at least $250,000 per insured bank

1. Introduction
2. Press Release
3. Acquiring Financial Institution
4. Question and Answer Guide
5. Banking Services
6. Loan Customers
7. Possible Claims Against the Failed Institution
8. Priority of Claims
9. Dividend Information
10. Brokered Deposits
11. Purchase and Assumption Agreement (564 kb PDF File - PDF Help)
12. Bid Summary
13. United Security Bank Contact Information
14. Balance Sheet Summary

On Friday, November 6, 2009, United Security Bank, Sparta, GA (including the branch that operated as the Bank of Woodstock) was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.  No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution.  Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution.  The FDIC has compiled the following information, which should answer many of your questions.

Your transferred deposits will be separately insured from any accounts you may already have at Ameris Bank for six months after the failure of United Security Bank. Checks that were drawn on United Security Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.  If you have questions about your account(s) transferred to the assuming bank, you may speak to an FDIC representative by calling 1-866-782-1897.

For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the FDIC's Electronic Deposit Insurance Estimator.

EDIE - FDIC's Electronic Deposit Insurance Estimator

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Ameris Bank as long as the deposits are not pledged as collateral for loans. You may view more information about Ameris Bank by visiting their web site.

Ameris Bank (www.amerisbank.com)

During regular business hours, you may continue to use the services to which you previously had access, such as safe deposit boxes, night deposit boxes, wire services, etc.

Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s) as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.

All interest accrued through Friday, November 6, 2009, will be paid at your same rate.  Ameris Bank will be reviewing rates. You will be notified of any changes.

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank. If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.

For all questions regarding new loans and the lending policies of Ameris Bank, please contact your branch office.

Please see A Borrower’s Guide to an FDIC Insured Bank Failure for additional information.

Jacksonville Claims Agent: 1-904-256-3925

The United Security Bank had no publicly owned stock. Equity shareholders were invested in the holding company, United Security Bancshares, Inc., Woodstock, GA, and not in the bank. Please do not file a claim with the Receiver, rather contact the holding company with any questions you may have:

Depositors

General Unsecured Creditors

Subordinated Debt

Stockholders

Deposit Broker's Processing Guide