Failed Bank Information
Information for Community Bank of Nevada, Las Vegas, NV
- Press Release
- Is My Account Fully Insured?
- Deposit Insurance National Bank
- Question and Answer Guide
- Banking Services
- Loan Customers
- Possible Claims Against the Failed Institution
- Priority of Claims
- Dividend Information
- Brokered Deposits
- Purchase and Assumption Agreement (504 kb PDF File - PDF Help)
- Community Bank of Nevada Contact Information
- Balance Sheet Summary
Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any Phishing Scams to obtain information from you.
On Friday, August 14, 2009, The State of Nevada Financial Institutions Division closed Community Bank of Nevada, Las Vegas, NV and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information, which should answer many of your questions.
II. Press Release
The FDIC has issued a press release (PR-146-2009) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr at 202-898-6992.
III. Is My Account Fully Insured?
FDIC provides a tool that will allow you to verify the insurance status of each of your accounts. That status will be available no later than the first business day after bank failure.
Click the link below and enter your account number in the search screen. One of two messages will appear:
- "Your account is fully insured" along with a link will that provides additional information or
- a message advising you to contact the FDIC along with contact information.
IV. Acquiring Financial Institution
The FDIC has created the Deposit Insurance National Bank of Las Vegas, NV ("DINB of Las Vegas") to facilitate the resolution of Community Bank of Nevada, Las Vegas, NV. The Federal Deposit Insurance in its capacity as Receiver has negotiated with Nevada State Bank to serve as paying agent and administer the orderly payment of certain deposits.
Checks for insured Savings, CDs and insured IRAs will be sent to your mailing address on record with Community Bank of Nevada. These will be mailed on Monday, August 17, 2009, and you should receive these checks by the end of the week.
Principal and interest on insured accounts, through Friday, August 14, 2009, are fully insured by the FDIC, up to the insurance limit of $250,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $250,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.
All interest bearing accounts that exceed the $250,000 insurance limit and/or all interest bearing accounts that appear to be related and exceed this limit are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits, you should call the FDIC Call Center to arrange for a telephone interview with a Claims Agent at 1-800-331-6306. The Claim Agent may direct you to download and submit a particular form that will assist in expediting the processing of your claim.
Please return the forms to the FDIC by FAX (facsimile) or mail at the number or address listed for the failed institution.
FDIC Call Center
Hours of Operation
All Hours are Pacific Time
Friday, August 14, 2009: Until 9:00 p.m.
Saturday, August 15, 2009: 9:00 a.m. – 6:00 p.m.
Sunday, August 16, 2009: Noon – 6:00 p.m.
Thereafter: 8:00 a.m. – 8:00 p.m.
If it is determined that you have uninsured funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate entitles you to share proportionately in any funds recovered through the disposal of the assets of Community Bank of Nevada. This means that you will eventually recover some of your uninsured funds.
To find out more about FDIC Deposit Insurance:
Checks that were drawn on Community Bank of Nevada will be honored up to your available balance or the insured amount until close of business on September 14, 2009. 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. A hold may be in place on deposit accounts due to delinquent loans where the depositor is the borrower or guarantor. Additionally, any account pledged as collateral for a loan will be held.
V. Banking Services
The Automated Teller Machines (ATM) will remain available.
Online services will be in a read-only mode until August 17, 2009.
During the four week period ending on September 14, 2009, you are encouraged to make arrangements with DINB of Las Vegas regarding your safe deposit boxes and any other services to which you previously had access.
Your checks will be processed as usual through September 14, 2009. All outstanding checks that clear prior to September 14, 2009 will be paid against your available insured balance(s) as if no change had occurred. If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.
All interest accrued through Friday, August 14, 2009, will be paid at your same rate. Interest will not continue to accrue after that date.
Automatic direct deposit(s) will continue until close of business September 14, 2009. Automatic withdrawal(s) must clear your account by August 21, 2009 or they will be returned. You should make arrangements with another financial institution as soon as possible.
VI. Loan Customers
If you had a loan with Community Bank of Nevada, you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract, because they are contractually agreed to in your promissory note with the failed institution. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan, please contact your loan officer.
Please see A Borrower's Guide to an FDIC Insured Bank Failure for additional information.
VII. Possible Claims Against the Failed Institution
If you or your company provided a service or product, leased space, furniture, or equipment to Community Bank of Nevada after Friday August 14, 2009 and have not been paid you do not have a claim against Community Bank of Nevada. Please follow your normal billing procedures by providing an invoice as instructed.
Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. If you or your company provided a service or product, leased space, furniture, or equipment to Community Bank of Nevada prior to Friday August 14, 2009 and have not been paid you may be entitled to a claim against the bank. If you provided a product to or a service for Community Bank of Nevada prior to the bank's failure for which you have not been paid and you have not received communication, contact:
FDIC as Receiver for Community Bank of Nevada
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent
Please note: There are time limits for filing a claim, your claim must be filed on or before 11/19/2009.
VIII. Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- General Unsecured Creditors
- Subordinated Debt
IX. Dividend Information
X. Brokered Deposits
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution.