Federal and state regulators closed Sandy Springs-based RockBridge Commercial Bank on Dec. 18. Regulators said the quality of the bank’s assets and its capital base collapsed during the third quarter of last year. No financial institutions stepped forward to purchase the assets and liabilities of the bank so that it could continue operations.
The bank, founded Nov. 13, 2006, failed just a month after its third anniversary in business. The bank had been subject to an emergency order to right itself or sell. It failed because of the weight of bad real estate loans, regulators said.
The Federal Deposit Insurance Corp. took control of RockBridge and dispensed of its $294 million in assets as receiver. The bank had $291.7 million in deposits. Of that total, $2.1 million was  uninsured.