The Federal Deposit Insurance Corporation announced that Community Bank and Trust - West Georgia of LaGrange, Georgia, was closed by the Georgia Department of Banking and Finance and that the FDIC has been appointed receiver. Under an agreement with Anchor Bank of Palm Beach Gardens, Florida, Anchor Bank will assume substantially all insured deposits and acquire certain assets of the failed bank, with customers retaining access to their insured funds. The bank’s three branches will reopen as branches of Anchor Bank during normal business hours on Monday, May 4, 2026. Depositors will automatically become depositors of Anchor Bank, their assumed deposits will remain insured by the FDIC, and customers can continue accessing insured deposits over the weekend through checks, ATMs and debit cards. Loan customers should continue making payments as usual. As of December 31, 2025, Community Bank and Trust - West Georgia reported USD 288 million in total assets and USD 268 million in total deposits. Approximately USD 27 million of deposits exceeded FDIC insurance limits, although that figure may change as the FDIC reviews additional information, and the agency may later make advanced dividend payments to uninsured depositors based on recoveries from retained assets. The FDIC estimates the failure will cost the Deposit Insurance Fund about USD 97 million and said this is the second bank failure in the United States this year.

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