The FDIC posted a notice to their website at 5:01 p.m. Thursday
According to the FDIC and the Century Bank of Cartersville:
The Community Bank of Rockmart was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
Community Bank of Rockmart’s sole branch office in Rockmart will reopen as a branch of Century Bank of Georgia with its normal Saturday drive-through only banking hours of 8:30 am to Noon on November 12, 2011. Customers may stop by on Saturday, when representatives of the Century Bank of Georgia as well as those of the Community Bank of Rockmart will be available to answer questions take care of banking needs.
The Rockmart branch will not be open on Friday, November 11, 2011, due to the Veterans’ Day Federal holiday.
“The entire Century Bank of Georgia team is excited about this opportunity to better serve the Rockmart and Polk County markets and we were pleased that a local institution was able to assume Community Bank of Rockmart’s operations. Our bank already conducts business in these markets and many of our team members live in these markets and have long-term relationships in the community,” said Rick Drews, Century Bank of Georgia CEO. “Century Bank of Georgia is a growing and well-capitalized institution so this transaction will strengthen the banking experience for our new customers. We look forward to meeting each of our new customers and building on the foundation of customer service that Community Bank of Rockmart began.”
To protect the depositors, the FDIC entered into a purchase and assumption agreement with Century Bank of Georgia, Cartersville, Georgia, to assume all of the deposits of Community Bank of Rockmart.
Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Community Bank of Rockmart should continue to use their existing branch until they receive notice from Century Bank of Georgia that it has completed systems changes to allow other Century Bank of Georgia branches to process their accounts as well.
This evening and over the holiday weekend, depositors of Community Bank of Rockmart can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of September 30, 2011, Community Bank of Rockmart had approximately $62.4 million in total assets and $55.9 million in total deposits. In addition to assuming all of the deposits, Century Bank of Georgia agreed to purchase approximately $40.7 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
Customers with questions about today's transaction should call the FDIC toll-free at 1-800-528-6215. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Friday and Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8:00 a.m. to 8:00 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/rockmart.html.
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