Data / Bank failures / 2007 / Netbank
Netbank, Alpharetta, GA: failed September 28, 2007
Netbank in Alpharetta, Georgia, failed on September 28, 2007. Ing Bank, FSB of Wilmington, DE, took over its deposits. It held $2.47 billion in assets and $2.29 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $119.6 million (4.8% of its assets). By assets it was the largest of 3 banks closed or assisted in 2007.
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The FDIC's record
- Closed
- September 28, 2007
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Ing Bank, FSB, Wilmington, DE
- Total assets
- $2,473,806,000
- Total deposits
- $2,290,046,000
- Estimated cost to the FDIC
- $119,608,007 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 32575
Other bank failures in Georgia, 2005 to 2009
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Rockbridge Commercial Bank | Atlanta | December 18, 2009 | $294 million | $291.7 million | $98.8 million | |
| The Buckhead Community Bank | Atlanta | December 4, 2009 | $856.2 million | $813.7 million | $310.6 million | State Bank and Trust Company |
| First Security National Bank | Norcross | December 4, 2009 | $127.5 million | $121.6 million | $34.3 million | State Bank and Trust Company |
| The Tatnall Bank | Reidsville | December 4, 2009 | $49.6 million | $47.1 million | $14.7 million | Heritagebank of the South |
| United Security Bank | Sparta | November 6, 2009 | $153.6 million | $149.6 million | $60.9 million | Ameris Bank |
| American United Bank | Lawrenceville | October 23, 2009 | $110.1 million | $102.4 million | $44 million | Ameris Bank |
| Georgian Bank | Atlanta | September 25, 2009 | $2.23 billion | $1.96 billion | $960.8 million | First Citizens Bank & Trust Company |
| First Coweta | Newnan | August 21, 2009 | $163.8 million | $154.9 million | $66.7 million | United Bank |
All bank failures in 2007 · All bank failures in Georgia · 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.