First Citizens buys failed Georgia bank
October 8, 2009
By MoneyAisle
The Street reports that First Citizens, a bank based in South Carolina, will be acquiring both the assets and deposits of the recently failed Georgian Bank.
According to First Citizens’ president Peter Bristow, “Entering the Atlanta market is a continuation of our current expansion strategy in South Carolina and Georgia. This acquisition is a perfect way for us to grow while continuing to provide a high level of service, and safe and sound banking.”
According to mid-year records, First Citizens had $6.8 billion worth of assets and $5.7 billion in deposits.