Security Bank, GA
Date:
July 24, 2009
Maximum Amount:
$2.40 billion
Amount Spent:
$0.81 billion
Deficit Impact:
$0.81 billion This bank has been closed, and individual deposits up to $250,000 have been insured by the FDIC. Other banking institutions have agreed to take on the bank's various deposits.
Security Bank operated six branches in Georgia. The following table displays all six bank branches and their corresponding desposits.
| Security Bank, GA | Date | Max Amount (Millions) | Amount Spent (Millions) |
| Security Bank of Jones County | 07/24/09 | $387 | -- |
| Security Bank of Houston County | 07/24/09 | $320 | -- |
| Security Bank of Bibb County | 07/24/09 | $1,000 | -- |
| Security Bank of North Metro | 07/24/09 | $212 | -- |
| Security Bank of North Fulton | 07/24/09 | $191 | -- |
| Security Bank of Gwinnett County | 07/24/09 | $292 | -- |
| Total | $2,402 | $807 |
Source:
Notes:
Although FDIC costs are counted on-budget, they should eventually be offset by proceeds from the sale of liquidated assets and higher premiums for deposit insurance. Maximum amount indicates value of total bank deposits. Amount spent and deficit impact represent FDIC-estimated cost to deposit insurance fund.