FGCC First Georgia Community Corp. featured news, full reports, and detailed charts
First Georgia Community Corp. (FGCC/FGCC.PK) Wrap Up:
First Georgia Community Corp. operates as the holding company for First Georgia Community Bank, which provides commercial banking services primarily in Butts, Henry, and Newton counties of Georgia, as well as in the surrounding counties. It offers various deposit products, including personal and business checking accounts, interest-bearing checking accounts, savings accounts, money market funds, and various types of certificates of deposit. The company’s loan portfolio comprises installment loans, real estate loans, second mortgage loans, commercial loans, and home equity lines of credit. In addition, the company provides services, such as official bank checks and money orders, MasterCard an...First Georgia Community Corp. (FGCC:OTC)
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Market Cap
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Total Revenue
10.0M
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EBITDA
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DILUTED EPS TTM
1.55
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P/E
0.0x
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P/S
0.0x
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Return On Asset
0.50
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Return On Equity
7.88
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FGCC Top Compensated Officers
Executives, Board Directors
Key developments for First Georgia Community Corp. (FGCC)
On May 24, 2008, Alfred D. Fears, Jr., Joey McClelland and Dr. Alexander Pollack resigned from the Board of Directors of First Georgia Community Corp. and its wholly owned subsidiary, First Georgia Community Bank. As a result of their resignations, the Company’s Board of Directors is currently comprised of five members.
On 04/01/2008, First Georgia Community Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
First Georgia Community Corp. announced that, on February 22, 2008, Emory Lewis retired as a director and President and Chief Executive Officer of the company. Mr. Lewis will continue to serve as a consultant for the Company’s subsidiary, First Georgia Community Bank. As a result of Mr. Lewis’ retirement, the Board of Directors of the Company has appointed Art Hammond to serve as President and Chief Executive Officer of the Company and the Bank. Mr. Hammond has been with the Bank since 2006, most recently serving as Chief Operating Officer of the Bank. Prior to Joining the Bank, Mr. Hammond served as Senior Vice President and Chief Executive of Henry County for Southern Community Bank from June 2004 until joining the Bank in February 2006.
FGCC Competitors
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Industry Analysis
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FGCC transactions
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More Recent News About First Georgia Community Corp.
More news for FGCC
FIRST GEORGIA COMMUNITY CORP Files SEC form 8-K, Bankruptcy or Receivership
Item 1.03. Bankruptcy or Receivership. On December 5, 2008, the Georgia Department of Banking and Finance (the "Georgia Department") closed First Georgia Community Bank (the "Bank"), the wholly owned commercial banking subsidiary of First Georgia Community Corp. (the "Company"), and the Federal Deposit Insurance Corporation ("FDIC") was named as the receiver of the Bank. The Company's principal asset is the common stock that it owns in the Bank, and, as a result of the closure of the Bank, the Company has very limited remaining tangible assets. As the owner of all of the capital stock of the Bank, the Company would be entitled to the net recoveries, if any, following the liquidation or sale of the Bank or its assets by the FDIC. However, at this time, the Company is unable to provide any assurance that any recovery will be realized by the Company or the timing of any such recovery. In connection with the closure of the Bank, the FDIC issued a press release, dated December 5, 2008, announcing the following: • The FDIC's Board of Directors approved the assumption of all of the deposits of the Bank by United Bank, Zebulon, Georgia ("United Bank"). Accordingly, all depositors of the Bank, including those with deposits in excess of the FDIC's insurance limits, will automatically become depositors of United Bank for the full amount of their deposits, and they will continue to have uninterrupted access to their deposits. Depositors will continue to be insured with United Bank, so there is no need for customers to change their banking relationship to retain their deposit insurance. • The Bank's four offices will reopen on Saturday, December 6, 2008, as branches of United Bank. However, for a period of time, customers of the Bank should continue to use the Bank's office locations until United Bank can fully integrate the deposit records of the Bank. • United Bank has agreed to pay a total premium of 0.811 percent for the ...Click here to read the whole Article (external link)