The Georgia Department of Banking and Finance closed the Community Bank and Trust – West Georgia of LaGrange, Ga.
The department appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC subsequently entered into an agreement with Anchor Bank of Palm Beach Gardens, Florida to assume substantially all insured deposits and acquire certain assets of Community Bank and Trust – West Georgia.
The three branches of Community Bank and Trust – West Georgia reopened as branches of Anchor Bank on May 4. Depositors of Community Bank and Trust – West Georgia will automatically become depositors of Anchor Bank. The deposits assumed by Anchor Bank will continue to be insured by the FDIC.
\As of December 31, 2025, Community Bank and Trust – West Georgia reported total assets of $288 million and total deposits of $268 million. Approximately $27 million of the deposits exceeded FDIC insurance limits. This amount is likely to change once the FDIC obtains additional information.
Customers with accounts in excess of $250,000 should contact the FDIC toll-free at 1-866-314-1744 to set up an appointment to discuss their deposits.
The FDIC estimates that the failure will cost its Deposit Insurance Fund approximately $97 million.
Community Bank and Trust – West Georgia is the second bank to fail in the nation this year.