Saturday, December 13, 2008

Two Banks in Georgia and Texas Close

Two more banks, one in Georgia and another in Texas, closed Friday.

Haven Trust Bank was closed by the Georgia Department of Banking and Finance and

Sanderson State Bank was closed by the Texas Department of Banking.

The Federal Deposit Insurance Corp. was named receiver of both.

Branch Banking & Trust of Winston-Salem, N.C., will assume Haven Trust's $515 million in deposits for $112,000, according to an agreement with the FDIC.

Haven Trust's four branches reopen on Monday as branches of BB&T, and its depositors will automatically become depositors of BB&T. The FDIC says they can access all their money over the weekend by writing checks or using ATMs or debit cards.

The Pecos County State Bank will assume all of Sanderson State Bank's deposits, including those that exceeded the deposit insurance limit, according to a company press release.

Over the weekend, depositors of Sanderson State Bank will have access to all of their money by writing checks or using ATMs or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.


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