Receiverships of the former Security Exchange Bank, Marietta, Ga., and First Cornerstone Bank, King of Prussia, Pa., were terminated Nov. 1, the Federal Deposit Insurance Corp. (FDIC) said in a filing for the Federal Register.
Security Exchange Bank was closed in June 2012. The bank’s deposits were assumed by Fidelity Bank (Atlanta, Ga.); Fidelity Bank and FDIC entered into a loss-share transaction on other asset pools. First Cornerstone Bank was closed in May 2016 and its deposits and assets assumed by First-Citizens Bank & Trust Company, Raleigh, N.C., according to FDIC.