107 BestBank/Guaranty Bank Locations Close nationwide; Company Fails
34 Georgia BestBank Locations Close; Company Fails
Parent company Wisconsin-based Guaranty Bank couldn't recover from the housing crisis. 107 Branches are closing nationwide.
By Doug Gross (Patch Staff) - May 6, 2017 6:08 pm ET
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GLENDALE, WI — Wisconsin-based Guaranty Bank was closed Friday by federal officials, after the bank could not recover from the housing and mortgage foreclosure crisis.
In Georgia and Michigan, Guaranty Bank did business as BestBank.
Georgia's BestBank locations all are located in Kroger supermarkets or Walmart stores. In all, 34 Georgia locations will be closing.
Guaranty Bank is the fifth FDIC-insured institution to fail in the nation this year.
A sale agreement brokered by the FDIC means that First-Citizens Bank & Trust Company, Raleigh, North Carolina, will assume all of the deposits of Guaranty Bank.
Guaranty Bank had 119 branches in five states, 107 of which were in retail outlets, such as grocery and general merchandise stores. The branches in retail outlets will not be reopening.
The 12 brick-and-mortar locations in Illinois, Minnesota, and Wisconsin will reopen as branches of First-Citizens Bank & Trust Company during their normal business hours. All depositors of Guaranty Bank, regardless of where they conducted business, will automatically become depositors of First-Citizens Bank & Trust Company.
Over the weekend, all depositors of Guaranty Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Depositors with accounts at the branches not reopening can continue to use electronic means for conducting their banking business, including online and mobile banking. ATM machines on-site at the branches in retail outlets will not be operational.
List of closed Georgia BestBank branches:
- Acworth-Hwy. 9, Kroger, 6199 Hwy 92, Suite 176, Acworth
- Caroline, Kroger, 1225 Caroline St., Atlanta
- Monroe, Kroger, 1700 Monroe Dr., Atlanta
- Buford, Kroger, 3855 Buford Hwy., Atlanta
- Roswell (Northridge), Kroger, 8331 Roswell Rd., Atlanta
- College Park, Kroger, 6055 Old National Hwy., College Park
- Conyers, Kroger, 1745 Highway 138 SE, Conyers
- Covington-HWY 278, Kroger, 3139 U.S. Hwy. 278 NE, Covington
- Salem, Kroger, 3700 Salem Rd., Covington
- Covington-HWY 20, Kroger, 5341 Hwy. 20 South, Covington
- Cumming-Bethelview Road, Kroger, 2325 Bethelview Rd., Cumming
- Decatur, Kroger, 2875 N. Decatur Rd., Decatur
- Decatur - Memorial Dr., Kroger, 3479 Memorial Dr., Decatur
- Flat Shoals, Kroger, 4919 Flat Shoals Pkwy, Suite 100, Decatur
- Douglasville, Kroger, 8501 Hospital Dr., Douglasville
- Duluth, Kroger, 3093 Steve Reynolds Blvd., Duluth
- Dunwoody, Kroger, 4498 Chamblee Dunwoody Rd., Dunwoody
- Ellenwood, Kroger, 101 Fairview Rd., Ellenwood
- Ellenwood Walmart, Walmart, 2940 Anvil Block Rd., Ellenwood
- Lake City, Kroger, 5664 Jonesboro Rd., Lake City
- Lawrenceville, Kroger, 2100 Riverside Pkwy. NW, Lawrenceville
- Lilburn-Five Forks, Kroger, 3050 Five Forks Trickum Rd. SW, Lilburn
- Lilburn-HWY 29, Kroger, 4155 Lawrenceville Hwy. NW, Lilburn
- Lithonia Wal-Mart, Walmart, 5401 Farrington Rd., Lithonia
- Lithonia - Kroger, Kroger, 6678 Covington Hwy., Lithonia
- Loganville, Kroger, 910 Athens Hwy., Loganville
- Mableton-Floyd, Kroger, 4875 Floyd Rd., Mableton
- McDonough, Kroger, 301 Jonesboro Rd., McDonough
- South Stockbridge, Walmart, 1400 Hudson Bridge Rd., Stockbridge
- Stockbridge, Kroger, 3618 Hwy 138 SE, Stockbridge
- Stone Mountain, Kroger, 1227 Rockbridge Rd., Stone Mountain
- Tucker-Lavista, Kroger, 3959 Lavista Rd., Suite A, Tucker
- Lawrenceville Hwy., Kroger, 4357 Lawrenceville Hwy., Tucker
- Union City, Kroger, 4550 Jonesboro Rd., Union City
Patch's Scott Anderson contributed to this report.
https://patch.com/georgia/cumming/34...-company-fails
