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Federal Deposit
Insurance Corporation

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

Failed Bank Information

Information for Neighborhood Community Bank, Newnan, GA

  1. Introduction
  2. Press Release
  3. Acquiring Financial Institution
  4. Priority of Claims
  5. Dividend Information
  6. Purchase and Assumption Agreement (670 kb PDF File - PDF Help)
  7. Bid Summary
  8. Receivership Termination

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, June 26, 2009, Neighborhood Community Bank, Newnan, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.

The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership is deemed terminated.


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II.  Press Release

The FDIC has issued a press release (PR-102-2009) 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.


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III.  Acquiring Financial Institution

All deposit accounts have been transferred to CharterBank, West Point, GA ("assuming institution") and will be available immediately.  On Saturday, June 27, 2009, the former Main and Peachtree City Offices of Neighborhood Community Bank locations will reopen as branches of CharterBank. On Monday, June 29, 2009, the former Downtown and Tyrne Offices of Neighborhood Community Bank locations will reopen as branches of CharterBank.

Your transferred deposits will be separately insured from any accounts you may already have at CharterBank for six months after the failure of Neighborhood Community Bank. Checks that were drawn on Neighborhood Community 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 1-888-408-4360.

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 CharterBank as long as the deposits are not pledged as collateral for loans. You may view more information about CharterBank by visiting their web site.

CharterBank (www.charterbk.com)


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IV.  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


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V.  Dividend Information

Dividend History on Neighborhood Community Bank

Dividend Information on Failed Financial Institutions


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VIII. Receivership Termination

The FDIC as Receiver for Neighborhood Community Bank, Newnan, GA, has taken all actions necessary to terminate the Receivership Estate.

The Receiver published a legal notice of intent to terminate the receivership in the Federal Register on August 3, 2015.

The Receiver has made all dividend distributions required by law.

Effective December 1, 2015, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.


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