New Horizons Bank
East Ellijay, GA · Owner: New Horizons Bankshares Inc
$103M
total assets, March 31, 2011
$103M
total assets, March 31, 2011
New Horizons Bank was a state nonmember bank in East Ellijay, GA, owned by New Horizons Bankshares Inc. It failed on Apr 15, 2011, and Citizens South Bank took over its deposits. At its last report it held $103.1 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 2011
This bank failed
- Failed on
- Apr 15, 2011
- Assets
- $103M
- Deposits
- $99.0M
- Estimated cost
- $34.7M
- Deposits went to
- Citizens South Bank, Gastonia, NC
Total assets
$103M
-17.0% in a year · -6.9% in a quarter
Deposits
$99.0M
-11.6% in a year · -6.7% in a quarter
Loans
$70.3M
-26.6% in a year · -7.8% in a quarter
Profit so far
-$501K
Jan 1 to Mar 31, 2011
Capital ratio
-0.18%
-5.63 pts in a year
Return on assets
-1.88%
-0.72 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 489 Highland Xing, East Ellijay, GA, 30540
- County
- Gilmer
- Holding company
- New Horizons Bankshares Inc
- Established
- May 21, 2004
- Failed
- Apr 15, 2011
- Employees
- 21
- Branches
- 1
- Id
- b57705
Quarter by quarter
June 30, 2004 to March 31, 2011
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is New Horizons Bank?
$103.1 million in total assets and $99.0 million in deposits as of March 31, 2011, with assets down 17.0% from a year before. Its loans were $70.3 million.
How many branches does New Horizons Bank have?
1 branch in Georgia as of June 30, 2026.
Is New Horizons Bank profitable?
No: it lost $501,000 from January 1 to March 31, 2011. Its return on assets was -1.88% a year; about 1% is typical.
Who owns New Horizons Bank?
New Horizons Bank is owned by New Horizons Bankshares Inc, its holding company.
When did New Horizons Bank fail?
Apr 15, 2011. Citizens South Bank of Gastonia, NC took over its deposits. The estimated cost of the failure was $34.7 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.