What about my account with American Marine Bank?
If you had an account with American Marine Bank, you now have an account
with Columbia State Bank, Tacoma, WA. All deposit
accounts, which include
checking, savings, money market, CDs and retirement accounts, have been
transferred to Columbia State Bank, regardless of the dollar amount. No one
lost any money
on deposit in American Marine Bank.
Customers of both banks should continue to use their existing branches until
Columbia State Bank can fully integrate the deposit records of American
To forewarn you of any scams, please be advised that you will not receive
any notification from the FDIC, the Receiver, or Columbia State Bank to provide any private information.
be watchful for and resist any such scams to obtain information from you by individuals
or entities purporting to act on behalf of American Marine Bank, Columbia
State Bank, or the FDIC.
ATM/debit card and/or Billpay:
What about my ATM/debit card and/or bill paying with American Marine
Your ATM/debit card will continue to work, and bill paying will work as it has in the past.
I am a deposit broker or have brokered deposits. What do I do?
As an All-Deposit Transfer transaction, the total of
all deposit accounts, excluding the Cede & Co. brokered
deposits have been assumed by Columbia State Bank. The
FDIC retained the Cede & Co. brokered deposits and will pay those
accounts off directly.
Be advised, however, that from and after the date of closing,
Columbia State Bank will accrue and pay interest on deposit liabilities
at a rate it shall determine; accordingly,
Columbia State Bank
shall permit depositors, including brokered depositors, impacted
by reduced rates to
deposits without penalty for early withdrawal.
If you are a customer who has an American Marine Bank deposit through a broker, you must contact your broker with any questions.
Direct Deposits - Government Deposits:
What will happen to my direct deposits?
Direct Deposits, including Social Security checks, will continue as normal.
Existing Deposits at Columbia State Bank:
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 Columbia State Bank 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 Friday, January 29, 2010,
will be paid at your same rate. Columbia State Bank 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
a deposit to or a withdrawal from your account.
What about my loan or mortgage with American Marine Bank?
All mortgages and loans have been assumed by Columbia State
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 American Marine
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 American
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 this transaction.
What about my shares of stock?
All shares of American Marine Bank were owned by its holding company,
AMB Financial Services Corporation, Bainbridge Island, WA. The holding
company was not included in the closing of the bank or the
resulting receivership. If you are a
shareholder of AMB Financial Services Corporation, please do not
contact or file a claim with the Receiver. You may contact
AMB Financial Services Corporation directly for information
|AMB Financial Services Corporation
249 Winslow Way East
Bainbridge Island, WA 98110
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 American Marine Bank, together with proof of the claims, must
be submitted in writing to the Receiver at the following address:
Federal Deposit Insurance Corporation
Receiver: American Marine Bank
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent
Will personal trust services as trustee, agent, guardian or custodian for customers, and family accounts continue to be offered?
Yes. Columbia State Bank acquired all trust services and will continue to manage those relationships as they were at American Marine Bank.