“We are disappointed that the FDIC has filed yet another meritless lawsuit in Georgia against former bank officers and directors,” said the defendants’ attorney, Mary Gill, with Atlanta-based Alston & Bird. “We look forward to demonstrating in court that the FDIC’s claims are baseless.”
Regulators criticized 16 specific loans for allegedly deficient practices that resulted in more than $27 million in losses to the bank.
The suit is the 13th FDIC liability lawsuit against insiders of a failed Georgia bank. The state leads the nation in bank failures since mid-2008.
Notable shareholders at RockBridge included Home Depot co-founder Bernie Marcus and real estate giant Charlie Ackerman.