First Choice Community Bank had FDIC notices posted in the windows of their branches after closing time on Friday evening, which stated that a bank based out of Arkansas would acquire all the bank’s assets.

These notifications may not have come to a surprise to those paying attention to financial news after a newspaper in Atlanta published a report last fall about the troubling triple-digit ratio. When the same newspaper published similar reports on banks in like situations, the banks didn’t last long until they reached failure.

Banks of the Ozarks based in Little Rock, Arkansas will take over all the baking operations, including the deposits. Ozarks will also take over The Park Avenue Bank located in Valdosta.

Since banks started failing during the financial crisis that hit the country, more small, community-based banks have failed than large ones. These smaller banks weren’t able to reap as much benefit from government bailouts as the larger banks were.

“Most community banks do not hold mortgage paper”, said Michael Chaffing, former President and CEO of First Choice. “Savings and loans did in the past, but it doesn’t work on a small bank’s balance sheet. So if this bill is specifically for then the direct impact for us would be zero”.

Sheila Bair of the FDIC said she expected less bank failures to happen in 2011.