De novo bank opens in Georgia

Moultrie Bank & Trust, a recently approved de novo bank, has opened. 

The bank opened on May 9, the Federal Deposit Insurance Corp. noted on its website. Organizers were required in a Dec. 13 order from the FDIC to raise $20 million before opening. 

The group behind the de novo applied for deposit insurance last July. 

A consultant for the group said last summer 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.