In the wake of the sudden takeover of downtown Winder’s 84-year-old home town bank, many questions have been raised about its new owner, Community & Southern Bank.
The Carrollton-based financial institution, in a deal with the Federal Deposit Insurance Corp., bought The Peoples Bank on Sept. 17 when it was closed by state regulators.
The people now running Community & Southern Bank are experienced bankers, but the bank itself didn’t exist until nine months ago. Its representatives applied to the Georgia Department of Banking & Finance for a new bank charter in October 2009.
Three months later on Jan. 6, the bank’s parent company, Community & Southern Holdings Inc., was incorporated in Delaware
Community & Southern logos can now be seen on the facilities previously operated by The Peoples Bank, including this location in Holly Hill Mall. Photo by Jessica Brown
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