On Friday, April 24, 2009, American Southern Bank was closed by the Georgia Department of Banking and Finance. The FDIC was named Receiver. Bank of North Georgia, Alpharetta, GA acquired all deposit accounts.
The FDIC as Receiver for American Southern Bank, Kennesaw, 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 22, 2023 and has made all dividend distributions required by law.
Effective September 1, 2023, 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: BANK OF NORTH GEORGIA
About Bank of North Georgia
All deposit accounts were transferred to Bank of North Georgia, Alpharetta, GA ("assuming institution"). Former American Southern Bank locations reopened as branches of Bank of North Georgia.
Your transferred deposits were separately insured from any accounts you may have already had at Bank of North Georgia for at least six months after the failure of American Southern Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Bank of North Georgia as long as the deposits are not pledged as collateral for loans.
Contacting Bank of North Georgia
Bank of North Georgia was merged with Synovus Bank on 06/01/2010.
You can contact Synovus Bank:
Synovus Bank
1111 Bay Ave
Columbus, GA 31901
Synovus Bank (www.synovus.com)
Transaction Documentation
Purchase & Assumption Agreement
Agreement between FDIC and acquiring institution