Closed Friday, July 6, 2012 · Ailey, Montgomery County, Georgia
Montgomery Bank & Trust
Montgomery Bank & Trust's assets had shrunk 42% from their peak in the second quarter of 2009 by the last report before closing. Equity capital was below zero at its last report. In 2012 regulators closed 10 banks in Georgia; this was the sixth.
On the books, 2004 to 2012
Total assets peaked at $265 million. Equity capital had covered 9.0% of assets in the third quarter of 2004. By then 12% of its loans were 90 days or more past due or no longer accruing interest. It reported a net loss in four of its final nine reporting years. The deepest annual loss, $24.6 million, was booked in 2012 in only part of the year.* 2012: January to June only, the last report before closing.
Size against the other 2012 failures
Total assets of each 2012 failure, log scale; Montgomery Bank & Trust in red.
By assets it ranked 27th of the 51 failures in 2012. Within Georgia it ranks 71st by size of the 128 failures recorded since 1934. Across the failures of 2012, the median estimated loss came to 21% of assets. In the size ranking of that year, just above it was Bank of the Eastern Shore of Cambridge, Maryland ($162 million, loss 36% of assets); just below, Security Exchange Bank of Marietta, Georgia ($151 million, loss 30% of assets). Every 2012 failure in the explorer.
Failures in Georgia
The previous failure there was Security Exchange Bank of Marietta, on June 15, 2012. The next was First Cherokee State Bank of Woodstock, on July 20, 2012. No other failed bank in the FDIC's records was based in Montgomery County.