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Bank Failures

Failed Bank Information for Appalachian Community Bank, FSB, McCaysville, GA

On December 17, 2010, Appalachian Community Bank, FSB was closed by the Office of Thrift Supervision. The FDIC was named Receiver. Peoples Bank of East Tennessee, Madisonville, TN acquired all deposit accounts.

The FDIC as Receiver for Appalachian Community Bank, FSB, McCaysville, GA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on December 10, 2010 and has made all dividend distributions required by law.

Effective July 1, 2021, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status: TERMINATED

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Notice of Termination

Effective Date: July 1, 2021
Icon for Notice of Intent to Terminate

Notice of Intent to Terminate

Publication Date: December 10, 2020
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Dividend Information

Report on dividends paid
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Press Release

Official press release

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ACQUIRING INSTITUTION: PEOPLES BANK OF EAST TENNESSEE

About Peoples Bank of East Tennessee

All deposit accounts, excluding the Cede & Co. deposits, were transferred to Peoples Bank of East Tennessee, Madisonville, TN ("assuming institution"). Former Appalachian Community Bank locations reopened as branches of Peoples Bank of East Tennessee.

Your transferred deposits were separately insured from any accounts you may have already had at Peoples Bank of East Tennessee for at least six months after the failure of Appalachian Community Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Peoples Bank of East Tennessee as long as the deposits are not pledged as collateral for loans.

Contacting Peoples Bank of East Tennessee

You can contact Peoples Bank of East Tennessee:

Peoples Bank of East Tennessee
4511 Ushwy 411
Madisonville, TN 37354

Peoples Bank of East Tennessee (www.peoplesbank-tn.com)

Transaction Documentation

Purchase & Assumption Agreement
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Last Updated: July 12, 2021