Bank of the Ozarks entered into an FDIC-assisted transaction to take over a failing bank in Georgia.
On Friday, Little Rock-based Bank of the Ozarks assumed substantially all of the assets, deposits and other liabilities of Unity National Bank in Cartersville, Georgia. Bank of the Ozarks assumed approximately $259 million in deposits and acquired approximately $295 million in assets.
All former Unity National Bank locations will open at normal banking hours on March 27, 2010 as Bank of the Ozarks locations.
The move is Bank of the Ozarks’ first foray into the Georgia market. The financial institution will have five offices in four communities, including Adairsville, Cartersville, Calhoun and Rome, Ga.