Winder Georgia Bank Failure - First Piedmont Bank Fails

The FDIC appointed a receiver of the First Piedmont Bank in Winder Georgia today. This makes the 15 banks failure in Georgia since 2008. We also had major bank failures here in GA in 2007 with the failure of NetBank in September 28, 2007 that makes 16 bank failures here in less that two years. At the time NetBank failed, it was considered the 4th largest bank failure in US history. Georgia has the highest bank failure rate in the nation to date in this economic crisis that seems far from over. According to FDIC announcement, First Piedmont Bank of Winder, GA will have its assets assumed by First American Bank and Trust of Athens GA.

FDIC BANK FAILURE LIST