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



Home > Industry Analysis > Failed Banks > Failed Bank List > Failed Bank Information




Failed Bank Information
Information for First Piedmont Bank, Winder, GA
  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 (781 kb PDF File - PDF Help)
  12. Bid Summary
  13. First Piedmont Bank Contact Information
  14. Balance Sheet Summary
Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any Phishing Scams to obtain information from you.
I.  Introduction
On Friday, July 17, 2009, First Piedmont Bank, Winder, GA 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.

Back to top
II.  Press Release
The FDIC has issued a press release (PR-123-2009) about the institution's closure.  If you represent a media outlet and would like information about the closure, please contact David Barr at 202-898-6992.
Back to top
III.  Acquiring Financial Institution
All deposit accounts have been transferred to First American Bank and Trust Company, Athens, GA ("assuming institution") and will be available immediately.  On Monday, July 20, 2009, the former First Piedmont Bank locations will reopen as branches of First American Bank and Trust Company.

Your transferred deposits will be separately insured from any accounts you may already have at First American Bank and Trust Company for six months after the failure of First Piedmont Bank. Checks that were drawn on First Piedmont 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 regarding deposit insurance by calling 1-877-367-2717.

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 First American Bank and Trust Company as long as the deposits are not pledged as collateral for loans. You may view more information about First American Bank and Trust Company by visiting their web site.

First American Bank and Trust Company (www.fabathens.com)

Back to top
V.  Banking Services
The Automated Teller Machines (ATM) and online service will remain available.

As of Monday, July 20, 2009, 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, July 17, 2009, will be paid at your same rate.  First American Bank and Trust Company will be reviewing rates and will provide further information soon.  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.

Back to top
VI.  Loan Customers
If you had a loan with First Piedmont Bank, you should continue to make your payments as usual.  The terms of your loan will not change under the terms of the loan contract, because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan, please contact your loan officer.

For all questions regarding new loans and the lending policies of First American Bank and Trust Company, please contact your branch office.

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

Back to top
VII.  Possible Claims Against the Failed Institution

If you or your company provided a service or product, leased space, furniture, or equipment to First Piedmont Bank after Friday July 17, 2009 and have not been paid you do not have a claim against First Piedmont Bank. Please follow your normal billing procedures by providing an invoice as instructed.

Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. If you or your company provided a service or product, leased space, furniture, or equipment to First Piedmont Bank prior to Friday July 17, 2009 and have not been paid you may be entitled to a claim against the bank. If you provided a product to or a service for First Piedmont Bank prior to the bank's failure for which you have not been paid and you have not received communication, contact:

Federal Deposit Insurance Corporation
Receiver:   First Piedmont Bank
1601 Bryan Street
Dallas, TX 75201
Attention: Claims Agent

Please note:  There are time limits for filing a claim, your claim must be filed on or before 10/21/2009.

Back to top
VIII.  Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
  1. Depositors
  2. General Unsecured Creditors
  3. Subordinated Debt
  4. Stockholders
Back to top
X.  Dividend Information

Dividend History on First Piedmont Bank


Dividend Information on Failed Financial Institutions

Back to top
X.  Brokered Deposits
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele.  This site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution.

Deposit Broker's Processing Guide

Back to top
General Disclaimer



Last Updated 01/15/2013 cservicefdicdal@fdic.gov