Another Top 40 Failure

Nineteenth-ranked Hometown Community Bank of Braselton, Georgia, was closed today by the state regulators. CertusBank, N.A. of Easley, South Carolina agreed to purchase essentially all of the $124.6 million in total assets as well as assuming approximately $108.9 million in total deposits.This is the fourth failed bank acquisition for CertusBank 92234th). The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million.