Security Bank Corp. was shut down yesterday by the Georgia Department of Banking and Finance, and the FDIC. Pinehurst-based State Bank and Trust Co. will assume all of the deposits of Security Bank’s six subsidaries and will acquire $2.4 billion of the banks’ assets.
The subsidiary banks are:
- Security Bank of Bibb County
- Security Bank of Gwinnett County
- Security Bank of Houston County
- Security Bank of Jones County
- Security Bank of North Fulton
- Security Bank of North Metro
Click here for more information from Joe Rauch of the Atlanta Business Chronicle.