Failed Bank Information for The First State Bank, Barboursville, WV

The full balance of all deposit accounts, excluding certain brokered deposits, has been transferred to MVB Bank.
You may continue to use your checks and ATM/Debit card. Direct deposits like paychecks and social security benefits will continue as usual. Please refer to the Banking Services section below for more details.

The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.

In keeping with West Virginia Governor Jim Justice’s Stay-at-Home Order, customers should visit a bank branch only if an in-person visit is essential and only after calling your branch to make an appointment.

EDIE — Electronic Deposit Insurance Estimator
Calculate insurance coverage of deposit accounts

Facts for Depositors
General information explaining the role of FDIC

You should continue to make payments, including escrow payments, as usual; the terms of your loan will not change. If you are making escrow payments and receive notification that any portion of your taxes or insurance was not paid, contact your loan officer.

If your loan is currently in process or you had a line of credit, contact your loan officer.

Borrowers whose finances are impacted by the coronavirus pandemic should contact their original loan officers or call the contact information provided in their loan statements before addressing requests for modifications to MVB Bank.

Obtaining a Lien Release
Process on getting a release of lien

Borrower’s Guide to an FDIC Insured Bank Failure
Overview of how FDIC processes loans

Facts for Borrowers
General information explaining the role of FDIC

You may be eligible to file a claim against The First State Bank.

If you have not been paid for services rendered prior to April 3, 2020, please refer to the Filing Claims section below.

Facts for Creditors
General information explaining the role of FDIC

About MVB Bank
All deposit accounts, excluding brokered deposits, have been transferred to MVB Bank, Fairmont, WV ("assuming institution") and will be available immediately. The former The First State Bank locations will reopen as branches of MVB Bank during regular business hours.

The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.

In keeping with West Virginia Governor Jim Justice’s Stay-at-Home Order, customers should visit a bank branch only if an in-person visit is essential and only after calling your branch to make an appointment.

Your transferred deposits will be separately insured from any accounts you may already have at MVB Bank for at least six months after the failure of The First State Bank. Checks that were drawn on The First State Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.

All interest accrued through Friday, April 3, 2020 will be paid at your same rate. MVB Bank will be reviewing rates. You will be notified of any changes. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with MVB Bank as long as the deposits are not pledged as collateral for loans.

Contacting MVB Bank
You can contact MVB Bank:

MVB Bank
301 Virginia Avenue
Fairmont, WV 26554

MVB Bank (https://mvbbanking.com)

Transaction Documentation
Purchase & Assumption Agreement — PDF
Agreement between FDIC and the acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Brokered Accounts
As an All Deposits transaction, the total of all deposit accounts, excluding certain brokered deposits, has been assumed by MVB Bank.
Deposit Broker’s Processing Guide

Automatic Payments/Bill Pay/Online Banking
These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by MVB Bank.

ATM and Debit Cards
Your ATM/Debit card will continue to work as usual.

Checks
Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s). MVB Bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office.

Direct Deposit
All direct deposits, for example, social security checks, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.

Overdraft Lines of Credit
These lines have been transferred to MVB Bank. Please contact MVB Bank if you have additional questions regarding your accounts.

Safe Deposit Boxes
You will have access to your safe deposit boxes; however, you should call your branch to arrange an appointment. Any changes will be communicated by MVB Bank.

Tax Reporting — 1098 and/or 1099
MVB Bank will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.

Creditors
If you or your company provided a service or product, leased space, furniture, or equipment to The First State Bank prior to April 3, 2020 and have not been paid, you may have a claim against The First State Bank.

All creditors having claims against The First State Bank must submit their claims to the Receiver online or by mail.

In order to facilitate the receipt of correspondence related to the Receiver’s administrative claims process during this period of national emergency, any party/claimant who would normallysend hardcopy mail to an FDIC facility related to the Receivership is encouraged to send electronic communication inquiries through email (nondepclaimsdal@fdic.gov) or the FDIC Information and Support Center (https://ask.fdic.gov/fdicinformationandsupportcenter/s/).

In addition, any party/claimant who normally would send a Receivership claim submission via hardcopy mail is encouraged to submit the claim through the Non-Deposit Claims Web portal (https://www5.fdic.gov/NDCWeb) or through email (nondepclaimsdal@fdic.gov).

Please note: There are time limits for filing a claim. Your claim must be filed on or before 07/22/2020 (the “Claims Bar Date”).

Under federal law, failure to file a claim on or before the Claims Bar Date will result in disallowance of the claim by the Receiver. The disallowance will be final. 12 U.S.C. Section 1821(d)(5)(C).

NOTE TO CLASS CLAIMANTS: By law, the Receiver will not accept a claim filed on behalf of a proposed class of individuals or entities or a class of individuals or entities certified by a court. EACH individual or entity must file a separate claim with the Receiver.

Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:

1. Depositors
2. General Unsecured Creditors
3. Subordinated Debt
4. Stockholders