Failed Bank Information
Information for Sinclair National Bank, Gravette, AR
- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
I. Introduction
On September 7, 2001, Sinclair National Bank, Gravette, AR was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.
The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.
II. Press Release
The FDIC issued a press release about the institution’s closure. If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at (202) 898-6993.
III. Acquiring Financial Institution
All insured deposit accounts were transferred to Delta Trust & Bank, Parkdale, AR and were available as usual during regular business hours at the following Delta Trust & Bank offices:
Gravette Office
113 2nd Street
Gravette, AR 72736
Phone: 479-787-7900
Fax: 479-787-7975
Bella Vista Office
1790 Forest Hills Blvd.
Bella Vista, AR 72715
Phone: 479-876-6000
Fax: 479-876-6900
On October 25, 2014, Delta Trust & Bank merged with Simmons Bank.
Simmons Bank (www.simmonsbank.com)
IV. Priority of Claims
The dividend process is complete. In accordance with Federal law, allowed claims are paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
V. Dividend Information
Dividend Information on Failed Financial InstitutionsVI. Receivership Termination
The FDIC, as Receiver for Sinclair National Bank, Gravette, AR has taken all actions necessary to terminate the Receivership Estate.
The Receiver published legal notice of intent to terminate the receivership in the Arkansas Democrat Gazette on November 3, 2003.
The Receiver has made all dividend distributions required by law.
Effective November 1, 2004, the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity.