First Security National Bank closed by FDIC. Accounts transferred to Stabe Bank & Trust. Depositors must reclaim FDIC-insured accounts

	December 4, 2009: First Security National Bank, Norcross, GA was closed by the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation was named receiver. The FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of First Security National Bank Assets & Deposits: As of September 30, 2009, First Security National Bank had total assets of approximately $128.0 million and total deposits of approximately $123.0 million. Successor Bank: All deposit accounts, excluding certain brokered deposits, have been transferred to State Bank and Trust Company, Macon, GA and are available immediately. On December 7, 2009, the four former First Security National Bank locations reopened as branches of State Bank and Trust Company. State Bank and Trust Company 4219 Forsyth Road Macon, GA 31210 229-645-3970 http://www.statebankga.com FDIC Insurance: Transferred deposits will be separately insured from any accounts you may already have at State Bank and Trust Company for six months after the failure of First Security National Bank. Interest: All interest accrued through Friday, December 4, 2009, will be paid at your same rate; however State Bank and Trust Company will be reviewing rates. Checks, Loans, Interest and Automated Transactions: Checks will be processed as usual. Automatic direct deposits and withdrawals will be transferred to your new bank. If you had a loan with First Security National Bank, you should continue to make your payments as usual. Cost to FDIC: The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $30.1 million. State Bank and Trust Company did not pay the FDIC a premium for the deposits of First Security National Bank. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company agreed to purchase approximately $118.0 million of the failed bank's assets. The FDIC retained the remaining assets for later disposition. The FDIC and State Bank and Trust Company entered into a loss-share transaction on approximately $82.4 million of First Security National Bank's assets. Note: ► Depositors must establish contact with the successor bank or the FDIC, when there is no successor, to reclaim their deposits. Failure to do so could ultimately result in a loss of insured funds. ► The interest rate paid by your former bank is subject to immediate change. ► Transferred deposits are separately insured for only 6 months after the date of transfer. ► Beneficial owners of fiduciary accounts (including UTMA, IOLTA and brokered CDs) should contact their brokers immediately to ensure proper claims procedures are followed. ► Safe deposit boxes should be promptly claimed.
2009 FDIC Insured Failed Banks




First Security National Bank 6170 Peachtree Parkway at Peachtree Corners Norcross, GA 30092
Established on 6/25/1985 as First Security National Bank
Assets: $128 million
Deposits: $123 million


Cost to FDIC: $30 million

History: 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.

06/25/1985 - Established as First Security National Bank

Depositor Alert

Unclaimed FDIC Insured Deposits

There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes.

Be advised that not every depositor with funds 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.

Beneficial owners of fiduciary accounts, including Uniform Transfers To Minors accounts, escrow accounts, Interest on Lawyer Trust Accounts (IOLTA), and deposit accounts obtained through a broker (Brokered Accounts) will not be contacted by the FDIC.

This is because these accounts are on the failed bank's records in the name of the fiduciary, not the individual owner. The FDIC does not have access to ownership information, and therefore will not contact individual depositors. It is the responsibility of the broker or other fiduciary to initiate a claim.

In addition, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage, after a period of time. If an individual already has accounts at a successor institution, perhaps unknowingly in the case of brokered deposits, the insurance limit may be exceeded and funds could be lost in a subsequent receivership.

Finally, in the worst case scenario, 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.

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 or Unclaimed Account Search

Depositor Claims: For additional information and assistance on the First Security National Bank receivership contact the FDIC at: 1-800-405-1498; or go to: http://www.fdic.gov/bank/individual/failed/firstsecurity.html

Creditor Claims: Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. Shortly after the failure, the FDIC sends notices directly to all known service providers to explain the claim filing process. If you provided a service for First Security National Bank and have not received a notice, please contact:

Federal Deposit Insurance Corporation
Receiver: First Security National Bank
1601 Bryan Street
Dallas, TX 75201
Attention: Claim Agent
1-800-568-9161