The Federal Deposit Insurance Corp. has given conditional approval to a bank planned in Moultrie, Ga.
The agency
is requiring the organizers of Moultrie Bank & Trust to raise $20 million
before opening, according to the Dec.
13 order.
Organizers applied
for deposit insurance in July.
A
consultant for the group said at that time that Donna Lott would serve as the
bank’s CEO, while Collin Batchelor would be the chief financial officer. Lott
was an executive vice president at Southwest Georgia Bank; Batchelor previously
worked at Ameris Bank.
The FDIC
has approved 12 applications for deposit insurance this year. Ten banks have
opened in 2021.
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