Community & Southern Bank, Atlanta, Georgia, Assumes All of the Deposits of Eastside Commercial Bank, Conyers, Georgia — 2014-07-18

Eastside Commercial Bank, Conyers, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community & Southern Bank, Atlanta, Georgia, to assume all of the deposits of Eastside Commercial Bank. The two branches of Eastside Commercial Bank will reopen as branches of Community & Southern Bank during their normal business hours. Depositors of Eastside Commercial Bank will automatically become depositors of Community & Southern Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.