Failed Bank Information
Information for First Priority Bank, Bradenton, FL
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Purchase and Assumption Agreement - PDF 3 Mb
- Bid Summary
- Receivership Termination
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 August 1, 2008, First Priority Bank, Bradenton, FL was closed by the Florida Office of Financial Regulation 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 is deemed terminated.
II. Press Release
The FDIC has issued a press release (PR-65-2008) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr with the Office of Public Affairs at 202-898-6992 or Andrew Gray in Florida, at 202-494-1049.
IV. Acquiring Financial Institution
All insured non-brokered deposit accounts have been transferred to SunTrust Bank based in Atlanta, Georgia ("assuming institution") and will be available immediately. Your bank will re-open on Monday during regular business hours at the former First Priority Bank main office and branch locations.
Principal and interest on insured accounts, through August 1, 2008, are fully insured by the FDIC, up to the insurance limit of $100,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $100,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.
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 First Priority Bank. This means that you will eventually recover some of your uninsured funds.
To find out more about FDIC Deposit Insurance:
- Visit EDIE the FDIC's Electronic Deposit Insurance Estimator
- View the FDIC Deposit Insurance Coverage Video
Checks that were drawn on First Priority Bank will be honored up to your available balance or the insured amount. You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with SunTrust Bank. A hold may be in place on deposits 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.
IV. 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
V. Dividend Information
VIII. Receivership Termination
The FDIC as Receiver for First Priority Bank, Bradenton, FL has taken all actions necessary to terminate the Receivership Estate.
The Receiver published a legal notice of intent to terminate the receivership in the Federal Register on September 6, 2016.
The Receiver has made all dividend distributions required by law.
Effective December 1, 2016, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.