On Friday, February 4, 2011, North Georgia Bank was closed by the Georgia Department of Banking & Finance. The FDIC was named Receiver. BankSouth, Greensboro, GA acquired all deposit accounts.
The FDIC as Receiver for North Georgia Bank, Watkinsville, GA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on May 9, 2017 and has made all dividend distributions required by law.
Effective September 1, 2017, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.
ACQUIRING INSTITUTION: BANKSOUTH
About BankSouth
All deposit accounts, excluding Internet Certificates of Deposit (CD) and Brokered deposits, were transferred to BankSouth, Greensboro, GA ("assuming institution"). Former North Georgia Bank locations reopened as branches of BankSouth.
Your transferred deposits were separately insured from any accounts you may have already had at BankSouth for at least six months after the failure of North Georgia Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with BankSouth as long as the deposits are not pledged as collateral for loans.
Contacting BankSouth
You can contact BankSouth:
BankSouth
6340 Lake Oconee Parkway
Greensboro,GA 30642
BankSouth (www.banksouth.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (10.32 Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank