The Graveyard › Banks › 2009
Freedom Bank of Georgia
Commerce, GA · failed March 6, 2009 · FDIC certificate 57558
Freedom Bank of Georgia of Commerce, GA failed on March 6, 2009. It opened on February 17, 2004, 5 years before. At its last report before that it held $172.5 million in assets and $159.0 million in deposits. The FDIC estimates that the Deposit Insurance Fund lost $43.3 million on it.
2004-032008-12
Assets at the end$172.5 millionlast report before March 6, 2009
Deposits at the end$159.0 million
Estimated loss to the fund$43.3 millionDIF
Largest in the quarterly reports$172.5 millionDecember 31, 2008
Equity to assets2.7%December 31, 2008
Loans not being repaid11.6%noncurrent, December 31, 2008
Return on assets-5.81%a year's rate, December 31, 2008
Staff39full time, December 31, 2008
Also ended in 2009
- Bank of America N.A. · Charlotte · $1.47 trillion in assets · assisted
- FIA Card Services N.A. · Wilmington · $159.6 billion in assets · assisted
- Countrywide Bank, FSB · Alexandria · $118.0 billion in assets · assisted
- Merrill Lynch Bank USA · Salt Lake City · $61.8 billion in assets · assisted
- Merrill Lynch Bank & Trust Co., FSB · New York · $38.0 billion in assets · assisted
- Bank of America Rhode Island N.A. · Providence · $35.4 billion in assets · assisted
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.