The Community Bank
Who: The Community Bank
What: 20th bank failure of 2008 (Nov. 21, 2008)
Where: Loganville, Georgia
Why: Involved in construction and development lending.
Fast Facts: Bank of Essex in Tappahannock, Virginia assumed all deposits from The Community Bank; as of Oct. 17, 2008, Security Pacific had $681.0 million in total assets and $611.4 million in total deposits; it is the third bank to fail in Georgia this year (Alpha Bank & Trust and Integrity Bank are the other two).
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