February 3, 2010 Edition TC Herald Front Page Page 2 Chamber Chronicles Sports Page 1 Sports Page 2 Opinions and Editorials

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February 3 , 2010

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CB&T purchased by
South Carolina-based lender

The future looks bright for CB&T after it was purchased Friday by South Carolina-based SCBT in a loss sharing arrangement with FDIC. Photo/Lowell Nicholson

Community Bank & Trust has new ownership and strong financial footing after it was acquired on Friday by Orangeburg, SC based South Carolina Bank and Trust.

The Cornelia-based bank was closed Friday by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, FDIC entered into a purchase and assumption agreement with SCBT. Full story by Charles Duncan