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PRESS RELEASE Federal Deposit Insurance Corporation Each Depositor insured to at least $250,000 Media Contact: FOR IMMEDIATE RELEASE December 17, 2010 LaJuan Williams-Young (202) 898-3876 lwilliams-young@fdic.gov State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of United Americas Bank, National Association, Atlanta, Georgia En Español United Americas Bank, National Association, Atlanta, Georgia, was closed today by The Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A. The two branches of United Americas Bank, N.A. will reopen during normal business hours beginning Saturday as branches of State Bank and Trust Company. Depositors of United Americas Bank, N.A. will automatically become depositors of State Bank and Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of United Americas Bank, N.A. should continue to use their existing branch until they receive notice from State Bank and Trust Company that it has completed systems changes to allow other State Bank and Trust Company branches to process their accounts as well. This evening and over the weekend, depositors of United Americas Bank, N.A. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual. As of September 30, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets and $193.8 million in total deposits. State Bank and Trust Company did not pay the FDIC a premium for the deposits of United Americas Bank, Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations. FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html ) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-274-2010 N.A. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company agreed to purchase essentially all of the assets. The FDIC and State Bank and Trust Company entered into a loss-share transaction on $195.8 million of United Americas Bank, N.A.'s assets. State Bank and Trust Company will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html. Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-1498. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/unitedamericas.html. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.8 million. Compared to other alternatives, State Bank and Trust Company's acquisition was the least costly resolution for the FDIC's DIF. United Americas Bank, N.A. is the 155th FDIC-insured institution to fail in the nation this year, and the 21st in Georgia. The last FDIC-insured institution closed in the state was Appalachian Community Bank, F.S.B., McCaysville, earlier today.