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Federal Deposit
Insurance Corporation

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

Failed Bank Information for Freedom Bank of Georgia, Commerce, GA

On Friday, March 6, 2009, Freedom Bank of Georgia was closed by the Georgia Department of Banking and Finance. The FDIC was named Receiver. Northeast Georgia Bank, Lavonia, GA acquired all deposit accounts.

The FDIC as Receiver for Freedom Bank of Georgia, Commerce, GA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 8, 2019 and has made all dividend distributions required by law.

Effective October 1, 2019, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: October 1, 2019


Notice of Intent to Terminate

Publication Date: February 8, 2019

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

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: NORTHEAST GEORGIA BANK

About Northeast Georgia Bank

All deposit accounts, including brokered deposits, were transferred to Northeast Georgia Bank, Lavonia, GA ("assuming institution"). Former Freedom Bank of Georgia locations reopened as branches of Northeast Georgia Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Northeast Georgia Bank for at least six months after the failure of Freedom Bank of Georgia.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Northeast Georgia Bank as long as the deposits are not pledged as collateral for loans.

Contacting Northeast Georgia Bank

You can contact Northeast Georgia Bank:

Northeast Georgia Bank
69 Augusta Road
Lavonia, GA 30553

Northeast Georgia Bank (www.northeastgabank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution

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