Community Bank and Trust ® West Georgia was closed & acquired by Anchor Bank ®.
Community Bank and Trust - West Georgia of LaGrange, Georgia, was closed by regulators on May 1, 2026, by the Georgia Department of Banking and Finance. The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver, and Anchor Bank of Palm Beach Gardens, Florida, assumed substantially all insured deposits and acquired certain assets of the failed institution.
The bank, which had $288 million in total assets and $268 million in total deposits as of December 31, 2025, reported that approximately $27 million in deposits exceeded FDIC insurance limits. The FDIC estimated the failure would cost its Deposit Insurance Fund approximately $97 million, making it the second U.S. bank failure of the year.
Customers of Community Bank and Trust - West Georgia automatically became depositors of Anchor Bank with immediate access to their insured funds. The bank's three branches in LaGrange and Hogansville reopened on May 4, 2026, as branches of Anchor Bank, allowing customers to continue using their existing checks, ATM, and debit cards.
Visit FDIC here for further instructions, if you had an account with this institution.
According to BankingDive.com: “ Community Bank & Trust’s three branches were set to reopen Monday as branches of Anchor Bank, the FDIC said. The FDIC projected the failure will cost the Deposit Insurance Fund about $97 million, although that estimate is expected to change as retained assets are sold.
The Georgia bank had $288 million in assets and $268 million in deposits as of Dec. 31. About $27 million of its deposits exceeded FDIC insurance limits, although the agency said that amount is expected to change once it receives additional information.
A January inspection by the Federal Reserve Bank of Atlanta revealed operational deficiencies with Community Bankshares, the now-failed bank’s holding company, including “with respect to pursuit of its growth strategy, related to board oversight, capital, and compliance with the rules related to affiliate transactions,” the Fed said.
The lender had embarked on a growth strategy that involved purchasing and originating U.S. Department of Agriculture and Small Business Administration loans through non-banks, which demanded “significant financial and managerial resources and support” from Community Bank shares, the central bank said.
The transaction boosts Anchor Bank’s asset total to $875 million, the bank said in a Friday news release. It’s also the first expansion beyond Florida for the privately held, state-chartered community bank, which has five branches in the southern part of the state, an Anchor spokesperson said.
Anchor CEO Nelson Hinojosa said the bank’s “immediate priority is to ensure a smooth transition and continuity of service.”
“We are pleased to expand Anchor Bank’s footprint into LaGrange and the broader Georgia market, and to begin serving this vibrant community,” Hinojosa said in a statement to Banking Dive. “Our approach to banking is relationship-driven and rooted in a commitment to quality service, and we look forward to bringing a friendly, responsive, and client-focused experience to our new customers. We are excited to build strong relationships and become a trusted partner in the continued growth of the Georgia community.”
Under the Fed order, Community Bankshares was directed to immediately conserve capital and told not to incur, increase, prepay or guarantee any debt without approval.“ Visit BankingDive.com for original article.
