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Federal Deposit
Insurance Corporation

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

Failed Bank Information for New Horizons Bank, East Ellijay, GA

On Friday, April 15, 2011, New Horizons Bank, East Ellijay, GA was closed by the Georgia Department of Banking and Finance. The FDIC was named Receiver. Citizens South Bank, Gastonia, NC acquired all deposit accounts.

The FDIC as Receiver for New Horizons Bank, East Ellijay, GA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on October 27, 2016 and has made all dividend distributions required by law.

Effective November 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

Effective Date: November 1, 2017


Notice of Intent to Terminate

Publication Date: October 27, 2016

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: CITIZENS SOUTH BANK

About Citizens South Bank

All deposit accounts, excluding certain brokered deposits, have been transferred to Citizens South Bank, Gastonia, NC ("assuming institution"). Former New Horizons Bank locations reopened as branches of Citizens South Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Citizens South Bank for at least six months after the failure of New Horizons Bank .

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

Contacting Citizens South Bank

Merged:

On October 1, 2012 Citizens South Bank merged with Park Sterling Bank

Park Sterling Bank
1043 E. Morehead Street, Suite 201
Charlotte, NC 28204

Park Sterling Bank (www.parksterlingbank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (10Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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