Business
Business

Former banker hit with $1.3 million civil penalty

By Russell Grantham
March 30, 2012

Adam M. Teague, a former executive implicated in the failure two years ago of an Ellijay bank, was hit with a $1.3 million civil penalty after a federal agency said he misappropriated more than $10 million in loan money.

The order, disclosed Friday by the Federal Deposit Insurance Corp., also barred Teague from working in the banking industry in the future. He did not contest the civil action.

Teague and two other executives at Appalachian Community Bank, including its CEO, were suspended from the Ellijay bank a few months before it failed in 2010.

About the Author

Russell Grantham
More Stories

Keep Reading

This is an aerial rendering of the first phase of the Stitch in downtown Atlanta. It was unveiled Wednesday, Oct. 22, 2025, during the inaugural Downtown Day hosted by Central Atlanta Progress and the Atlanta Downtown Improvement District. (Courtesy of Atlanta Downtown Improvement District)

Credit: Courtesy of Atlanta Downtown Improvement District

Atlanta’s Stitch project is a go, despite federal cuts. It’ll look like this.

The leaders of an effort to cap the Downtown Connector with a park say their project remains in motion, and they released their clearest vision yet of what they aim to build.

Coca-Cola launches Trump-approved cane sugar soda in the U.S.

Coca-Cola is rolling out a new version of its classic soda made with U.S. cane sugar.

Here’s where Mercedes-Benz plans to put its new Atlanta tech center

Mercedes-Benz announced Wednesday it finalized plans for a large research and development facility as part of the automaker’s Atlanta expansion efforts.

The Latest

Stellantis plans to open a 422,000-square-foot Mopar Parts Distribution Center in Forsyth, about 60 miles south of Atlanta. (Courtesy of Stellantis)

Credit: Courtesy of Stellantis

Stellantis car parts facility planned for Georgia could mean quicker repairs

Why are Subarus so popular?

OPINION

Is this the Corvette of the future?

Featured

(Photo Illustration: Philip Robibero | Sources: Hyosub Shin for the AJC, Unsplash)

Credit: Philip Robibero / AJC

THE FUTURE OF MARTA

MARTA was meant to go more places. Here’s why it doesn’t.

MARTA is searching for new leadership while it works toward completion of the largest capital investments made to the system in more than a decade.

Ex-PSC candidate took notebook of Georgia Power trade secrets, police say

A warrant alleges former Public Service Commission candidate Patty Durand placed a booklet of Georgia Power trade secret information into her purse and left a hearing room.

Buckhead HOA can’t keep neglecting historic Black cemetery, judge says

An Atlanta judge has forced a luxury Buckhead townhome HOA to refurbish and maintain one of the most historically significant African American cemeteries in the metro.