Wonder if the FED will make them close like they forced my local family owned bank to close 2 years ago.
The Peoples Bank in Winder Ga was family owned for 50+ years, and with a simple law change, they were forced (along with 25-30 other GA banks) to close their doors. Actually, they were forced to sell to a “stable” bank that had just been created to take advantage of the new law.
From their website:
“ Since its inception on January 29, 2010, CSB has acquired the assets and deposits of five banks from the FDIC: First National Bank of Georgia in Carrollton, GA; Appalachian Community Bank in Ellijay, GA; The Peoples Bank in Winder, GA (including El Banco de Nuestra Communidad); Bank of Ellijay in Ellijay, GA; and First Commerce Community Bank in Douglasville, GA. “
http://thecsbank.com/about-us.htm
Plus if you take over a bank US guarantees your profits. It is a sweet deal.