Georgia regulators on Friday closed Community Bank and Trust – West Georgia in LaGrange, Georgia, and appointed the FDIC as receiver. Anchor Bank of Palm Beach Gardens, Florida, agreed to assume substantially all insured deposits and acquire certain assets of the bank.
As of Dec. 31, 2025, Community Bank and Trust – West Georgia reported total assets of $288 million and total deposits of $268 million, according to the FDIC. Approximately $27 million of deposits exceeded FDIC insurance limits, with the amount likely to change once the FDIC obtains additional information. The FDIC may make payments to uninsured depositors – i.e., provide an “advanced dividend” – at a later date based on the recoveries from the sale of the retained failed bank’s assets and will provide additional information as it becomes available.
The FDIC estimated that the failure would cost its Deposit Insurance Fund approximately $97 million. The estimate is expected to change over time as retained assets are sold. Community Bank and Trust – West Georgia is the second U.S. bank to fail this year.
