Two North Georgia banks that operate divisions in Jackson, Barrow and Banks counties are reportedly under “cease and desist orders” from banking regulators.
The FDIC released a 29-page “cease and desist” order last Friday against Community Bank and Trust that was dated May 11. CB&T is headquartered in Cornelia and operates multiple divisions in Northeast Georgia, including Barrow and Jackson counties.
On Monday, Habersham Bancorp, based in Clarkesville, announced it had signed a less severe “cease and desist” order with the Georgia Department of Banking, according to Reuters. Habersham Bank operates a branch in Braselton, among other North Georgia locations. (Earlier reports misidentified the Habersham order as being with the FDIC rather than the state.) Habersham Bancorp president David Stovall said the bank is healthy and well-capitalized.
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