Question and Answer Guide
Integrity Bank, Alpharetta, GA
Integrity Bank Customer Service: 1-800-592-1958
FDIC Call Center: 1-800-523-0640
HOURS OF OPERATION – EASTERN TIME
Friday, August 29: 6 PM – 9 PM
Saturday, August 30: 9 AM – 6 PM
Sunday, August 31: 11 AM – 5 PM
Thereafter: 8 AM – 8 PM
The following answers are provided to the most commonly asked questions by customers of the failed bank. The total balance in your account(s) will be transferred to Regions Bank, Birmingham, AL and will be available for transactions during regular hours at the former Integrity Bank branches.
Please access our FDIC website, which contains deposit insurance information and an Electronic Deposit Insurance Estimator (EDIE) at https://edie.fdic.gov
- Over $100,000 What if I had more than $100,000 in my accounts at Integrity Bank?
- Account Hold I have been advised there is a hold on my account. What does that mean?
- ATM/Debit Card/Checks Can I continue to write checks or use my ATM/Debit card?
- Automatic Payments/Online Billpay Will my automatic payments/online Billpay continue?
- Brokered Deposits/Deposit Broker I am a deposit broker or I have brokered deposits. What do I need to do?
- Checks not honored A merchant will not honor my check. What can I do?
- Claim Account(s) How do I claim my account(s)?
- Customer Impact How does this action affect me?
- Deposits Existing at Regions Bank I already have other deposit accounts with the new bank. When combined with balances at this bank, my deposits exceed $100,000. Are all of my funds at both banks insured?
- Direct Deposits, Social Security, etc. What will happen to my direct deposit?
- Early withdrawal penalty Will I incur an early withdrawal penalty if I close my CD before maturity?
- Final Statement How will I get my final statement(s) from Integrity Bank?
- Interest Will I continue to earn interest at the same rate?
- Interest Checks/Cashier's Checks Can I cash my interest check or cashier's check?
- Internet Connection Why doesn't my Internet connection work?
- IRAs What if I have an Individual Retirement Account (IRA)? Will my savings still be insured?
- Outstanding Checks What will happen to the checks which have not cleared my account?
- Records/Account Histories What if I need information regarding my account during the time Integrity Bank was in business?
- Tax Reporting - 1098/1099s Who will send my 1098 and/or 1099 information after the end of the year?
- Wire Transfer Can funds be wired to me?
- Loans How do I make my loan payments?
- Loans in Process What happens if I have a loan in process that has not closed or a line of credit that was not fully funded?
- All Deposit Transfer versus Insured Deposit Transfer Why do all deposits pass in some transactions but not in others?
- FDIC Insurance Where can I find out more information about Federal Deposit Insurance rules?
- Media I represent a TV/Newspaper/Radio and would like some information.
- New Bank Insured? Is Regions Bank insured by the FDIC?
- Safe Deposit Boxes How can I claim the contents of my safe deposit box?
- Shareholders I am a shareholder of Integrity Bank. What happens to my shares?
- Unpaid Bill I did some work for Integrity Bank and have not yet been paid. What should I do?
- What happened What happened, why did the bank fail?
DEPOSIT QUESTIONS
1. What if I have more than $100,000 in my accounts at Integrity Bank?
All deposit accounts have been transferred to Regions Bank. All former Integrity Bank Offices will reopen for normal business hours on Tuesday, September 2, 2008, as branches of Regions Bank.
As an All Deposits Transfer transaction the total of all deposit accounts, whether within FDIC insurance limits or not, have been assumed by Regions Bank and will be available for transactions.
2. I have been advised there is a hold on my account. What does that mean?
Account holds have been placed on deposit accounts only if the depositor pledged the deposits as collateral for outstanding loans.
Can I continue to write checks or use my ATM/Debit card?
Yes, you can continue using your personal checks. The bank ATMs may be down for 30 minutes after closing to affect small administrative changes and will be back up shortly after. Your ATM/debit cards will continue to work.
4. Will my automatic payments through Billpay continue?
Yes, Online Bill Pay will continue as usual and bank customers will be able to schedule payments throughout the weekend.
5. I am a deposit broker or I have a deposit through a broker. What do I need to do?
All deposits have been transferred to Regions Bank. You should contact Regions Bank for any future changes or agreements.
6. A merchant will not honor my check. What can I do?
You can provide a copy of this document or a copy of the press release from www.fdic.gov since it states deposits have been transferred to Regions Bank, and it is business as usual. Copies of this press release will be available at the former Integrity Branches. Depositors or merchants can also call the FDIC at 1-800-523-0640 or the Regions Call Center for former Integrity customers at 1-800-592-1958.
7. How do I claim my account(s)?
Your account(s) already has been transferred to Regions Bank, and your account will be handled as usual. Any withdrawal, renewal or additional deposits will "claim" your account. Please be advised that if there is no activity in your account in the next 18 months, that money will be turned over to your state as unclaimed property. Unclaimed property can be located by visiting www.missingmoney.com or contacting your state treasurer's office of office of unclaimed property.
8. How does this action affect me?
All deposits (both insured and uninsured) of Integrity Bank have been transferred to Regions Bank, and it will be business as usual. If you held an account at Integrity Bank, you now have an account at Regions Bank that is available to you at your former Integrity Branches during regular business hours.
If you had a loan with Integrity Bank, please continue to make your payments to the same address as you have in the past until you are instructed otherwise. Continue to make your checks payable to Integrity Bank.
The former Integrity Bank locations will reopen for normal business hours on Tuesday, September 2, 2008. You will have continued access to your money through your ATM/debit card and by writing checks.
Can Integrity Bank customers use Regions branches?
No, not at this time. During the transition of Integrity Bank records to Regions Bank systems, Integrity Bank customers will continue to conduct their banking business at former Integrity Bank branches. You will be notified when you can use Regions Bank branches.
Similarly, existing Regions Bank customers cannot use former Integrity Bank branches and should continue to conduct their business at Regions branches.
9. I already have other deposit accounts with Regions Bank. When combined with balances at Integrity Bank, my deposits exceed $100,000. Are all of my funds insured at both banks?
When two or more insured banks merge, the deposits from the assumed bank continue to be insured separately for at least six months after the merger. This grace period gives depositors the opportunity to restructure their accounts, if necessary.
CDs from the assumed 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. For additional information, please go to the FDIC website at
Deposit Insurance (www.fdic.gov/deposit/index.html)
Are my deposits insured? (www.fdic.gov/deposit/deposits/index.html)
10. What will happen to my direct deposits?
Your direct deposits, including Social Security checks, will continue as normal. If you need to change anything in the future, please contact the Regions Bank to make those arrangements.
11. Will I incur an early withdrawal penalty if I close my CD before maturity?
You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with the Regions Bank by either making a deposit to or a withdrawal from your account, provided the deposits are not pledged as collateral for loans.
12. How will I get my final account statement(s) from Integrity Bank?
You will receive your statement(s) at the same time you have received them in the past.
13. Will I continue to earn interest at the same rate?
All interest accrued through Friday August 29, 2008 will be paid at the same rate. Regions Bank will be reviewing rates and will provide further information soon. Regions Bank will honor all current non-brokered CDs to maturity.
14. Can I cash my interest check or cashier's check?
Interest checks and cashier's checks will continue to clear.
15. Will my Internet connection to Integrity Bank still work?
Yes, the bank website (www.regions.com/personal-banking) will continue as usual in regular transaction mode.
16. What if I have an Individual Retirement Account (IRA)? Will my savings still be insured?
Yes, all deposits, including IRAs transferred in their entirety to Regions Bank. IRA funds are insured separately from other types of accounts up to $250,000.
17. What will happen to the checks which have not cleared my account?
Checks drawn on Integrity Bank that did not clear before August 29, 2008 will be honored up to your available balance.
18. What if I need information regarding my account during the time Integrity Bank was in business?
Please visit your former Integrity Bank branch for a copy of any records you may need. All deposit account histories and records are in the process of being transferred to Regions Bank.
19. Who will send my 1098 and/or 1099 information after the end of the year?
Regions Bank will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.
20. Can funds be wired to me?
Please visit your former Integrity Bank branch for information regarding your wire request. The bank will be open for their regular hours beginning Tuesday, September 2, at 8:30 AM.
LOAN QUESTIONS
21. How do I make my loan payments?
Your first contact for any loan questions should be your normal loan officer.
You will continue to make your checks payable to Integrity Bank and mail your loan payments to the same address as you have in the past until you are instructed otherwise. You will be notified by mail of any changes to the servicing of your loan.
You will receive a letter with information about your loan. The FDIC intends to market loans within 90 days. If you are concerned about whom your future lender or servicer may be; you have the right to independently refinance your loan with another lender.
22. What happens if I had a loan in process that had not closed or a line of credit not fully funded?
Your first contact for any loan questions should be your normal loan officer who will consult with the FDIC if necessary regarding your circumstances.
GENERAL QUESTIONS
23. Why do all deposits, insured or not, pass is some transactions but not in others?
All deposit accounts for Integrity Bank customers, regardless of insured status, have been transferred to Regions Bank.
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 is only able to transfer all deposits if the uninsured amounts are covered by the premium. The FDIC has been able to transfer all deposits in about 25% of the failures over the past 15 years.
24. How can I find out more about Federal Deposit Insurance rules?
You may access the FDIC website, which contains deposit insurance information and an Electronic Deposit Insurance Estimator (EDIE):
Go to: www.fdic.gov
Click on Deposit Insurance
Click on Are my deposits insured?
Click on EDIE (to calculate your insurance coverage)
You may also order Your Insured Deposits or any other FDIC publication through the following:
3501 North Fairfax Drive
Room E-1002
Arlington, VA 22226
25. I represent a TV/Newspaper/Radio and would like some information.
Please contact David Barr with the Office of Public Affairs at 202-898-6992. He may also be reached at: dbarr@fdic.gov.
26. Is Regions Bank insured by the FDIC?
Yes, Your deposit at Regions Bank is insured by the FDIC, and each depositor is insured to at least $100,000, as established by law.
27. How can I claim the contents of my safe deposit box?
It is business as usual. You may go to your former Integrity Bank branch and access your safe deposit box during normal business hours.
28. I am a shareholder in Integrity Bank. What happens to my shares?
Shareholders have a claim against the receivership; however, they have the lowest priority of claim. You should discuss this with an accountant and/or the IRS concerning the exact requirements necessary to recognize the investment as a loss for tax purposes.
29. I did some work for Integrity Bank and have not yet been paid. What should I do?
Please mail a statement to:
30. What happened, why did the bank fail?
Integrity Bank, Alpharetta, Georgia was closed Friday, August 29, 2008, by the Georgia Department of Banking and Finance. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was appointed Receiver. According to regulatory policy, there is no advance notice given to the public. Please see the Georgia Department of Banking and Finance press release for more information.
The good news is that no one lost any deposit money as a result of the closure of Integrity Bank. To protect depositors, the FDIC Board of Directors approved the assumption of Integrity Bank's deposits by Regions Bank, headquartered in Birmingham, Alabama.
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 personal 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/integrity.html