On Friday, August 19, 2016 United Bank announced it entered into a purchase and assumption agreement with the FDIC to assume all deposits and approximately $17.8 million in assets of the Woodbury Banking Company based in Woodbury, Georgia. United Bank purchased both insured and uninsured deposits and therefore all Woodbury Banking Company depositor accounts will be honored in full. The Woodbury Banking Company location will open as normal on Saturday, August 20 at its regular times and customers will be able to conduct business as usual.At the time of the transaction, Woodbury Banking Company had approximately $21.1 million in deposits and operated one banking location in Woodbury, Georgia. Jim Edwards, United Bank’s CEO, commented on the acquisition, ‘The community of Woodbury is a close neighbor to several of our other bank markets. We look forward to serving the needs of our new customers, and appreciate the opportunity to expand into this great Georgia town. United Bank has developed many new innovative products and delivery systems to expand the ways our customers do their everyday banking. We are excited to offer these services to our newest customers.’United Bank traces its roots back over 110 years to its founding as The Bank of Zebulon in 1905. The Bank was one of the first financial institutions in the country to receive deposit insurance from the FDIC in 1935. Today, United Bank operates with more than $1 billion in assets in 13 Georgia communities with 18 bank locations. Customers may conduct transactions at bank offices, via online banking, or through the United Bank mobile app. Seven-day banking is available via the Customer Call Center and the Bank’s interactive video teller network, Teller Now. Bankers are available from 7am until 11pm, every day of the week.For more information about United Bank and the transition of Woodbury Banking Company, customers are encouraged to view the Bank’s website at www.accessunited.com or call the Customer Call Center at 770-567-7211.
United Bank acquires Woodbury Banking Co.
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