Bank of Georgia Receives “Cease & Desist” from FDIC!

The Bank of Georgia is under some major scrutiny as the FDIC served a “cease and desist” to the Peachtree City-based bank.    The order basically states that the Bank of Georgia has been cited for a number of banking practices that could represent unsound and unsafe banking practices. 

Specifically, the bank was cited for operating with inadequate capitalization for its risk profile.  Additionally, the bank was operating with inadequate management citing that those practices are detrimental to the bank and further jeopardize its deposits.