Failed Bank List

Closed Friday, March 27, 2009 · Atlanta, Fulton County, Georgia

Omni National Bank

No bank took over Omni National Bank's deposits: the FDIC paid insured depositors directly. In the three years to the third quarter of 2008, its assets grew 125%. In 2009 regulators closed 25 banks in Georgia; this was the fourth.

On the books, 2001 to 2008

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$300M$600M$900M$1.2B2002200320042005200620072008Closed
Total assets peaked at $1.0 billion and were 5% lower at the final report. Equity capital went from 12% of assets in the first quarter of 2001 to 5.0% at the last report. By then 20% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $14.6 million, was booked in 2008.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$16M−$16M2001: $940 thousand20018.5%2002: $1.1 million20028.7%2003: $2.1 million20037.3%2004: $3.8 million20047.3%2005: $5.6 million20058.2%2006: $9.9 million20068.1%2007: −$14.6 million20076.9%2008: −$14.6 million20085.0%

Size against the other 2009 failures

Total assets of the 140 banks that failed in 2009, log scale$10M$100M$1B$10B$100B
Total assets of each 2009 failure, log scale; Omni National Bank in red.

By assets it ranked 28th of the 140 failures in 2009. Within Georgia it ranks eighth by size of the 128 failures recorded since 1934. Across the failures of 2009, the median estimated loss came to 27% of assets. Ranked by estimated loss, it is 136th of 2,944 failures since 1934. In the size ranking of that year, just above it was Alliance Bank of Culver City, California ($1.1 billion, loss 11% of assets); just below, Venture Bank of Lacey, Washington ($968 million, loss 21% of assets). Every 2009 failure in the explorer.

Failures in Georgia

The previous failure there was FirstCity Bank of Stockbridge, on March 20, 2009. The next was American Southern Bank of Kennesaw, on April 24, 2009. Fulton County has 18 failed banks on FDIC record since 1934. Closest in time: Integrity Bank (2008), Alpha Bank & Trust (2008), Security Bank of North Fulton (2009), The Buckhead Community Bank (2009), RockBridge Commercial Bank (2009).

Bank failures in Georgia per year, 1980 to 2026081624321981: 11989: 61990: 21991: 71992: 42000: 12002: 12007: 12008: 52009: 252010: 212011: 232012: 102013: 32014: 12015: 22016: 12026: 119801990200020102020
Per year since 1980, 2009 in red. Every Georgia failure

FDIC certificate 22238 · loss estimate as of July 31, 2026 · How to read this page