Saturday, February 19, 2011

FDIC: Habersham Bank, Clarkesville Georgia Fail

FDIC: Habersham Bank, Clarkesville Georgia: "Habersham Bank, Clarkesville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with SCBT National Association, Orangeburg, South Carolina, to assume all of the deposits of Habersham Bank.

The eight branches of Habersham Bank will reopen during their normal business hours beginning Saturday as branches of Habersham Bank, a division of SCBT National Association. Depositors of Habersham Bank will automatically become depositors of SCBT National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Habersham Bank should continue to use their existing branch until they receive notice from SCBT National Association that it has completed systems changes to allow other SCBT National Association branches to process their accounts as well.

This evening and over the weekend, depositors of Habersham Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual."

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