September 17, 2010:
Bank of Ellijay, Ellijay, GA, and Bank of Canton, Canton, GA, (a division
of Bank of Ellijay) were closed by the Georgia Department of Banking &
The Federal Deposit Insurance Corporation was named receiver.
Successor Bank: All deposit accounts, including brokered deposits, have been transferred to Community & Southern Bank, Carrollton, Georgia.
Community & Southern
History: Established in 2006 as Bank of Ellijay
► Depositors must establish contact or the successor bank or the FDIC to reclaim their deposits. ► Not every depositor in a failed bank will receive notification from the FDIC, and there are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes. By law, accounts which go unclaimed for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. ► Additionally, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage.
► It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account.
► For assistance tracing and reclaiming a lost bank account or safe deposit box go to: Missing Money Search
|2010 FDIC Insured Failed Banks|
Bank of Ellijay
134 Industrial Boulevard
Ellijay, GA 30540
|Cost to FDIC: $55 million|