Data / Bank failures / 2010 / Chestatee State Bank
Chestatee State Bank, Dawsonville, GA: failed December 17, 2010
Chestatee State Bank in Dawsonville, Georgia, failed on December 17, 2010. Bank of the Ozarks of Little Rock, AR, took over its deposits. It held $244.4 million in assets and $240.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $83.1 million (34% of its assets). By assets it was the 81st largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- December 17, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of the Ozarks, Little Rock, AR
- Total assets
- $244,376,000
- Total deposits
- $240,476,000
- Estimated cost to the FDIC
- $83,074,928 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 34578
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 Bank of the Ozarks took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Choice Community Bank | Dallas | GA | April 29, 2011 | $291.2 million | $294.8 million | $105.2 million | Bank of the Ozarks |
| The Park Avenue Bank | Valdosta | GA | April 29, 2011 | $849.4 million | $724.5 million | $212 million | Bank of the Ozarks |
| Oglethorpe Bank | Brunswick | GA | January 14, 2011 | $211.1 million | $201.4 million | $84.1 million | Bank of the Ozarks |
| Horizon Bank | Bradenton | FL | September 10, 2010 | $187.8 million | $164.6 million | $61.3 million | Bank of the Ozarks |
| Woodlands Bank | Bluffton | SC | July 16, 2010 | $382.8 million | $364.8 million | $107.3 million | Bank of the Ozarks |
| Unity National Bank | Cartersville | GA | March 26, 2010 | $300.6 million | $264.3 million | $73.6 million | Bank of the Ozarks |
All bank failures in 2010 · All bank failures in Georgia · Every failed bank Bank of the Ozarks 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.