United Security Bank in Sparta — including the Bank of Woodstock branch — was closed Friday by the Georgia Department of Banking and Finance. The Federal Deposit Insurance Corp. was named receiver, according to a news release.
No advance notice is given to the public when a financial institution is closed.
The two branches of United Security Bank and The Bank of Woodstock branch will reopen during their normal business hours as branches of Ameris Bank, headquartered in Moultrie.
Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use existing branches until Ameris Bank can fully integrate the deposit records of United Security Bank. The ATMs and online service will remain available.
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Customers who have questions about Friday’s transaction may call the FDIC toll-free at (866) 782-1897. The phone number will be operational 9 a.m.-6 p.m. today; noon-6 p.m. Sunday; and 8 a.m.-8 p.m. thereafter, according to the release. The FDIC’s Web site is http://www.fdic.gov/bank/individual/failed/unitedsecurity-ga.html.