Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Question and Answer Guide

Badger State Bank, Cassville, WI

The FDIC has put together some responses to frequent issues or questions bank customers may have following a bank failure. These should assist you in understanding what is happening at your bank.

On Friday, February 11, 2011, Badger State Bank, Cassville, WI was closed by the Wisconsin State Department of Financial Institutions. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Royal Bank, Elroy, WI acquired most of the deposits and assets of Badger State Bank from the FDIC as Receiver.

YOUR MONEY IS SAFE! No one lost any money on deposit because of the closure of this bank. Customers may continue to conduct their banking activities as usual.

ACCESS TO YOUR MONEY: You may continue to use your existing checks and make deposits. Your ATM/Debit card will continue to work as usual. Your account(s), including checking, savings, money market, non-brokered certificates of deposit, and retirement accounts, have been transferred to Royal Bank and are available for transactions during regular business hours at the Cassville office.

DIRECT DEPOSITS: All direct deposits including social security, payroll, veteran's benefits, or any payment you receive electronically will continue as usual.

AUTOPAYMENTS/BILLPAY: These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by the new bank.

INTEREST RATES: You will be paid interest on your deposits through close of business the day the Badger State Bank failed at your same rate. Thereafter, the new bank may change the interest rates. However, you may withdraw funds from any transferred account without early withdrawal penalty until you renew your Certificate of Deposit.

BROKERED DEPOSITS: As an All-Deposits Transfer transaction, the total of all deposit accounts, excluding the Cede & Co. deposits, have been assumed by Royal Bank. If you are a customer who has a Badger State Bank deposit through a broker, you must contact your broker with any questions.

SAFE DEPOSIT BOXES: You may continue to access your safe deposit box during normal business hours. Royal Bank will communicate any changes.

OVERDRAFT LINES OF CREDIT: Royal Bank has acquired these lines of credit. Please contact Royal Bank if you have additional questions regarding your accounts.

LOAN PAYMENTS: You should continue to make your payments according to the terms of your written contract. You may continue to make your payments at the Cassville office or send it to the same payment address with checks made payable to Badger State Bank.

ESCROW PAYMENTS: All loan services previously performed by Badger State Bank will continue. Should you receive notification that any portion of your taxes or insurance were not paid, notify your loan officer immediately.

LOANS IN PROCESS: Please contact your current loan officer directly.

SHARES OF STOCK: The holding company, Badger Bank Services, Inc., Cassville, WI, owns all shares of bank stock. The holding company is not included in the closing of the bank or the resulting receivership. If you are a shareholder of Badger Bank Services, Inc., please do not contact or file a claim with the Receiver. You must contact the holding company directly for more information:

Badger Bank Services, Inc.
201 East Amelia Street
Cassville, WI 53806
Attention: Louis Okey

CLAIMS: Please send claims for unpaid bills to the following address:

FDIC as Receiver for Badger State Bank
1601 Bryan Street
Dallas, TX  75201
Attention: Claims Agent

DEPOSIT INSURANCE INFORMATION: If you have accounts in both the failed and the new bank, the accounts are insured separately for at least six months following the merger of the banks. This will allow you time to restructure your accounts, if necessary.

ADDITIONAL QUESTIONS: You may contact the FDIC Call Center at the number provided below with any additional questions:

FDIC Call Center
Toll free number 1-800-930-1908
Hours of Operation – Central Time
Friday, February 11, 2011:  Until 9:00 p.m.
Saturday, February 12, 2011:
  9:00 a.m. – 6:00 p.m.
Sunday, February 13, 2011:
  Noon – 6:00 p.m.
  8:00 a.m. – 8:00 p.m.

REPORTERS/MEDIA: Requests for information should be directed to the Office of Public Affairs, Greg Hernandez, (202) 898-6984.

SCAMS: Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating that they are acting on behalf of either the failed bank, new bank, or the FDIC. Should you be contacted by anyone requesting private information from you related to this event, please contact the call center above and you will be directed to the appropriate person.

For more information: www.fdic.gov/bank/individual/failed/badgerstate.html

Last Updated 08/20/2012 cservicefdicdal@fdic.gov