Georgia State-Chartered Banks and Credit Unions Closure Procedures
In light of recent inquiries related to COVID-19, the Department would like to remind all Georgia State-Chartered Banks and Credit Unions of emergency closing notification procedures. Georgia Banks and Credit Unions Closure Procedures
Approval of De Novo Bank: Loyal Trust Bank, Johns Creek, Georgia
Atlanta, Georgia - The Department of Banking and Finance, State of Georgia ("Department") approved the de novo community bank charter of Loyal Trust Bank, In Organization ("I.O."). Loyal Trust Bank, I.O. is anticipated to be a multi-cultural bank that primarily serves the Asian American and business community in Johns Creek and the surrounding metro-Atlanta region.
Subject to the granting of deposit insurance by the Federal Deposit Insurance Corporation, Loyal Trust Bank, I.O. is expected to open no later than year-end 2019 with minimum capital of $20 million. The Chief Executive Officer and President of Loyal Trust Bank, I.O. is Charles G. Brown, III. Additionally, Renee Hinkson is the Chief Financial Officer. Organizers are Julin Gu, Rose Jarboe, Edward Oh, Hyong (James) Park, Bo Shen, Dong Wang, and Yimin Yang.
Name: Brittany Bohannon
Title: Supervisory Manager
Phone: (770) 986-5049