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Georgia: Ameris Bank Assumes Deposits of Montgomery Bank & Trust

 

July 9 - Montgomery Bank & Trust, Ailey, Ga., has been closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Ga., to assume all of the deposits of Montgomery Bank & Trust.

As of March 31, 2012, Montgomery Bank & Trust had approximately $173.6 million in total assets and $164.4 million in total deposits. In addition to assuming all of the deposits of the failed bank, Ameris Bank agreed to purchase approximately $12.4 million in assets, comprised mainly of cash and cash equivalents. The FDIC will retain the remaining assets for later disposition.

Customers with questions about the transaction should call the FDIC toll-free at 800-640-2693.Interested parties also can visit the FDIC's website at www.fdic.gov/bank/individual/failed/montgomery.html.


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