FDIC Seizes Gibson Bank: Hundreds At Town Hall Meeting

Gibson, GA—People are mad and concerned about what’s going to happen to their money, especially since it will be days before they have any access to it.

Sunday, hundreds of FirstCity Bank of Gibson customers, filled the auditorium of Glascock County Comprehensive School…looking for answers from FDIC officials after the only bank in town closed its doors for good…leaving their money inside.

William May, banked with FirstCity Bank for 25 years: “No warning…dropped the bomb. I’m on unemployment and they can’t even tell me where my check’s going.”

Ann Bradford, FirstCity Bank Customer: “It was really shocking to me because I thought we had a good place here in Gibson, you know.”

For 100 years, FirstCity Bank of Gibson has been the trusted bank in town. But now, drive down the street and you’ll see guards protecting its front doors. And, gas stations not accepting any of the banks cards. Its closing, another result of the slumping economy.

Linda Beavers, FDIC Regional Ombudsman: “The houses that were built, the subdivisions that were built, the commercial buildings that were built. There was no one to buy them, no one to occupy them and the builders were just unable to pay back the loans.”

Audrey Chalker is the county’s treasurer. She says although a disappointment for many right now, millions of dollars have been saved thanks to the FDIC’s $250,000 insurance protection.

Audrey Chalker, Glascock County Treasurer: “We know the majority of everyone is getting their money. It will be a few days it will be an inconvenience. Like I told someone, it’s like losing your wallet.  It’s just an inconvenience to have to get everything replaced and changed.”

Help is already on the way. After the meeting, managers from local banks were passing out cards to those now, bankless customers, hoping to bring a sense of security back to Gibson.

Chalker: “We’re just heartbroken. And we’re just hoping and praying that some other bank will come in and take over.”

Direct deposits and refunds from the government will now go to the Thomson branch of SunTrust Bank. Those with direct deposits for payrolls need to contact their employer to get that changed.

Any purchases not cleared since the closing will come back saying ‘bank closed,‘ so you won’t get charged.

A check will be mailed out for each account Monday morning. Statements will be mailed out Tuesday.

For more information and an FDIC question and answer sheet, head to their website: FDIC.gov, or call them at 1-877-367-2719.