Data / Bank failures / 2010 / Bank of Hiawassee
Bank of Hiawassee, Hiawassee, GA: failed March 19, 2010
Bank of Hiawassee in Hiawassee, Georgia, failed on March 19, 2010. Citizens South Bank of Gastonia, NC, took over its deposits. It held $377.8 million in assets and $339.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $107.3 million (28.4% of its assets). By assets it was the 59th largest of 157 banks closed or assisted in 2010.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- March 19, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citizens South Bank, Gastonia, NC
- Total assets
- $377,779,000
- Total deposits
- $339,597,000
- Estimated cost to the FDIC
- $107,262,676 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 10054
Other bank failures in Georgia, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Hometown Communitybank | Braselton | November 16, 2012 | $124.6 million | $108.9 million | $39.7 million | Certusbank, National Association |
| Jasper Banking Company | Jasper | July 27, 2012 | $206.7 million | $204.2 million | $49.2 million | Stearns Bank National Association |
| Georgia Trust Bank | Buford | July 20, 2012 | $116.9 million | $114.7 million | $25.3 million | Community & Southern Bank |
| First Cherokee State Bank | Woodstock | July 20, 2012 | $209 million | $182.1 million | $36.2 million | Community & Southern Bank |
| Montgomery Bank & Trust | Ailey | July 6, 2012 | $153.2 million | $164.2 million | $65.8 million | Ameris Bank |
| Security Exchange Bank | Marietta | June 15, 2012 | $151 million | $147.9 million | $44.8 million | Fidelity Bank |
| Convenant Bank & Trust | Rock Spring | March 23, 2012 | $95.7 million | $90.6 million | $30.3 million | Stearns Bank, National Association |
| Global Commerce Bank | Doraville | March 2, 2012 | $143.7 million | $116.8 million | $40.3 million | Metro City Bank |
Other failed banks Citizens South Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| New Horizons Bank | East Ellijay | GA | April 15, 2011 | $103.1 million | $99 million | $34.7 million | Citizens South Bank |
All bank failures in 2010 · All bank failures in Georgia · Every failed bank Citizens South Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.