What about my account with Valley Capital Bank, N.A.?
If you had an account with Valley Capital Bank, N.A., you now have an account
with Enterprise Bank & Trust, Clayton, MO. All deposit accounts, which
include checking, savings, money market, CDs and retirement accounts, have
been transferred to Enterprise Bank & Trust, regardless of the dollar
amount. No one lost any money on deposit in Valley Capital Bank, N.A.
Customers of both banks should continue to use their existing branches until
Enterprise Bank & Trust can fully integrate the deposit records of Valley
Capital Bank, N.A.
To forewarn you of any scams, please be advised that you will not
receive any e-mail notification from the FDIC, the Receiver, or Enterprise
Bank & Trust
to claim/unlock/unsuspend your account or to provide any private information.
Please be watchful for and resist any such scams to obtain information from
you by individuals or entities purporting to act on behalf of Valley Capital
Bank, N.A. or the FDIC.
Debit card and/or Billpay:
What about my debit card and/or bill paying with Valley Capital Bank, N.A.?
Debit cards will continue to work and bill paying will work as it has in the past.
Direct Deposits - Government Deposits:
What will happen to my direct deposits?
Direct Deposits, including Social Security checks, will continue as normal.
Existing Deposits at Enterprise Bank & Trust:
I already have other deposit accounts with the new bank. When combined with balances at this bank,
my deposits exceed $250,000. Are all funds insured?
The accounts transferred to Enterprise Bank & Trust will be separately
insured for at least six months after the merger. This grace period gives
a depositor the opportunity to restructure the accounts, if necessary.
CDs from the failed bank are separately insured until the earliest maturity date after the end of the
six-month grace period.
CDs that mature during the six-month period and are renewed for the same term and in the same dollar
amount (either with or without accrued interest) continue to be separately insured until the first maturity
date after the six-month period.
If a CD matures during the six-month grace period and is renewed on any other basis, it would be
separately insured only until the end of the six-month grace period.
Interest Rates, Early Withdrawal Penalty:
Will I continue to earn interest at the same rate? Will I be charged an early withdrawal penalty?
Interest on all deposits accrued through December 11, 2009, will be paid
at your existing rate. Enterprise Bank & Trust will review rates and
notify you if interest rates will change. Your interest rate may be reduced.
You may withdraw funds from any transferred account without an early withdrawal
penalty until you enter into a new deposit agreement with your new bank. Entering
into a new deposit agreement can be done by either renewing your CD or making
a deposit to or a withdrawal from your account.
What about my loan or mortgage with Valley Capital Bank, N.A.?
All mortgages and loans have been assumed by Enterprise Bank & Trust.
Your payment amount and due date are the same. If you are having your payment
deducted from your account, it will continue as it has in the past. You
should continue to make your checks payable to Valley Capital Bank, N.A. and
send your payments to the same address.
Loans in Process:
What happens if I had a loan in process that had not closed or a line of credit not fully funded?
You should contact your loan officer. All prior contacts remain the same.
Media: I represent a TV/Newspaper/Radio and would like some information.
Please contact the Office of Public Affairs:
What about checks that I have written on my account with Valley Capital
Your checks will clear up to the available balance in your account. You
can continue to use your existing checks.
Safe Deposit Boxes:
How can I claim the contents of my safe deposit box?
It is business as usual. You can go to your local branch and access your
safe deposit box; however, no action on your part is required because of
What about my shares of stock?
Shareholders have a claim against the receivership; however, they have
the lowest priority of claim. You should discuss this with an accountant
and/or the IRS concerning the exact requirements necessary to recognize
the investment as a loss for tax purposes. The FDIC does not require stockholders
to file a claim with the Receiver. However, we recommend that you keep
our office informed of any address change, should we need to contact you
in the future.
Why do all deposits, insured or not, pass in some transactions but not in others?
The FDIC is required by law to employ the least-cost resolution measure for each failed financial institution. The most frequent result had been for the FDIC to transfer only the insured deposits in a Purchase and Assumption transaction; however, the temporary increase in the deposit insurance limit has assisted in the transfer of all deposits more often in the past year.
I did some work for the bank and have not been paid. What should I do?
All claims against Valley Capital Bank, N.A., together with proof of the claims,
must be submitted in writing to the Receiver at the following address:
Federal Deposit Insurance Corporation
Receiver: Valley Capital Bank, N.A.
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent