Data / Bank failures / 2008 / First Georgia Community Bank
First Georgia Community Bank, Jackson, GA: failed December 5, 2008
First Georgia Community Bank in Jackson, Georgia, failed on December 5, 2008. United Bank of Zebulon, GA, took over its deposits. It held $256.4 million in assets and $215.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $86.3 million (33.7% of its assets). By assets it was the 22nd largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- December 5, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- United Bank, Zebulon, GA
- Total assets
- $256,371,000
- Total deposits
- $215,287,000
- Estimated cost to the FDIC
- $86,315,499 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 34301
Other bank failures in Georgia, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Appalacian Community Bank, F.S.B. | McCaysville | December 17, 2010 | $68.2 million | $76.4 million | $28.5 million | Peoples Bank of East Tennessee |
| United Americas Bank | Atlanta | December 17, 2010 | $242.3 million | $193.8 million | $96.4 million | State Bank and Trust Company |
| Chestatee State Bank | Dawsonville | December 17, 2010 | $244.4 million | $240.5 million | $83.1 million | Bank of the Ozarks |
| Tifton Banking Company | Tifton | November 12, 2010 | $143.7 million | $141.6 million | $21.4 million | Ameris Bank |
| Darby Bank & Trust Company | Vidalia | November 12, 2010 | $654.7 million | $587.6 million | $125.9 million | Ameris Bank |
| The Gordon Bank | Gordon | October 22, 2010 | $29.3 million | $26.9 million | $10.4 million | Morris Bank |
| The First National Bank of Barnesville | Barnesville | October 22, 2010 | $126.6 million | $122.9 million | $46.9 million | United Bank |
| The Bank of Ellijay | Ellijay | September 17, 2010 | $168.8 million | $160.7 million | $79.7 million | Community & Southern Bank |
Other failed banks United Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Woodbury Banking Company | Woodbury | GA | August 19, 2016 | $21.4 million | $21.1 million | $3.3 million | United Bank |
| The First National Bank of Barnesville | Barnesville | GA | October 22, 2010 | $126.6 million | $122.9 million | $46.9 million | United Bank |
| First Coweta | Newnan | GA | August 21, 2009 | $163.8 million | $154.9 million | $66.7 million | United Bank |
All bank failures in 2008 · All bank failures in Georgia · Every failed bank United Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.