FDIC Call Center
Toll free number 1-800-913-3062
Hours of Operation – Pacific Time
August 7, 2009:
Until 9:00 p.m.
Saturday, August 8, 2009:
a.m. – 6:00
Sunday, August 9, 2009:
Noon – 6:00
8:00 a.m. – 8:00
On August 7, 2009, Community First Bank, Prineville, OR, was closed by the
Oregon Division of Finance & Corporate Securities. The Federal Deposit Insurance
Corporation (FDIC) was then named Receiver. Subsequent to the closure, Home
Federal Bank, Nampa, ID acquired substantially all the deposits and assets of
Community First Bank from the FDIC as Receiver for Community First Bank. Any
claims by equity holders were not acquired. Share price does not trigger a bank
closing and was not the reason for Community First Bank's failure.
The total balance in your account(s) has been transferred to Home Federal Bank
and will be available for transactions during regular business hours at the former
Community First Bank branches starting on Monday, August 10, 2009.
You may continue to use your same checks, ATM Cards and debit cards until notified.
All Direct Deposits, including Social Security checks, will continue
What about my account with Community First Bank?
If you had an account with Community First Bank, you now have an account with
Home Federal Bank, Nampa, ID. All deposit accounts, which include checking, savings, money market, CDs and retirement accounts, have been transferred to
Home Federal Bank, regardless of the dollar amount. No one lost any money on deposit in
Community First Bank.
Customers of both banks should continue to use their existing branches until
Home Federal Bank can fully integrate the deposit records of Community First
To forewarn you of any scams, please be advised that you will not receive any e-mail notification from the FDIC, the Receiver, or
Home Federal Bank to claim/unlock/unsuspend your account or to provide any private information. Please be watchful for and resist any such scams to obtain information from you
by individuals or entities purporting to act on behalf of
Community First Bank.
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 Home Federal 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,
Home Federal Bank will accrue and pay interest on deposit
liabilities at a rate it shall determine; accordingly, Home
Federal Bank shall permit depositors, including brokered
depositors, impacted by reduced rates to withdraw their deposits
without penalty for early withdrawal.
If you are a customer who has Community First Bank deposits
through a broker, you must contact your broker with any
Existing Deposits at Home Federal 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 Home Federal 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?
All interest on insured deposits accrued through Friday, August 7, 2009, will be paid at your same rate. Home Federal Bank will review rates and notify you if interest rates will change.
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 CD or making a deposit to, or a withdrawal
from, your account.
What about my loan or mortgage with Community First Bank?
All mortgages and loans have been assumed by Home Federal
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 Community First Bank and send your payments to the same address.
All shares of Community First Bank were owned by its holding company, Prineville Bancorporation, Prineville, OR. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Prineville Bancorporation, please do not contact or file a claim with the Receiver. You may contact Prineville Bancorporation directly for information as follows:
P.O. Box 447
Prineville, OR 97754-0447
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 is for the FDIC to transfer only the
insured deposits in a merger transaction. The FDIC has been able to transfer all
deposits in about 25% of the failures over the past 15 years.