Question and Answer Guide
NBRS Financial, Rising Sun, MD
The following list of responses to frequently asked questions may assist you in understanding what is happening at NBRS Financial.
On Friday, October 17, 2014, NBRS Financial, Rising Sun, MD was closed by the Maryland Office of the Commissioner of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as Receiver. Subsequent to the closure, Howard Bank, Ellicott City, MD, acquired all the deposits and substantially all the assets of NBRS Financial from the FDIC as Receiver. All shares of stock were owned by the holding company, which was not involved in this transaction.
YOUR MONEY IS SAFE! No one lost any money on deposit as a result of the closure of this bank. All deposits, regardless of dollar amount, were transferred to Howard Bank.
ACCESS TO YOUR MONEY: You may continue to use your same checks, and they will clear up to the balance in your account. Your ATM/Debit card will continue to work as usual. The total balance in your account(s), including checking, savings, money markets, non-brokered Certificates of Deposit, and retirement accounts, have been transferred to Howard Bank and will be available for transactions during regular business hours at the former bank branches.
DIRECT DEPOSITS: All direct deposits, for example, social security checks, payroll, veterans' benefits, welfare and/or disability, unemployment or any payment you receive electronically will continue as usual.
AUTOPAYMENTS/BILLPAY/ONLINE BANKING: These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by Howard Bank.
INTEREST RATES: Interest on deposits accrued through close of business on Friday October 17, 2014 will be paid at your same rate. NBRS Financials rates will be reviewed by Howard Bank and may be lowered; however, you will be notified in writing of any changes. You may withdraw funds from any transferred account, regardless of whether your interest rate changes, without early withdrawal penalty until you enter into a new deposit agreement with Howard Bank.
BROKERED DEPOSITS: As an All-Deposits Transfer transaction, the total of all deposit accounts, including brokered deposits, have been assumed by Howard Bank. If you are a customer who has a NBRS Financial deposit through a broker, you must contact your broker with any questions.
TAX REPORTING – 1098 AND/OR 1099: Howard 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.
SAFE DEPOSIT BOXES: You may continue to access your safe deposit box during normal business hours. Any changes will be communicated by Howard Bank.
OVERDRAFT LINES OF CREDIT: These lines have been transferred to Howard Bank. Please contact Howard 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 branch office or send them to the same payment address with checks made payable to NBRS Financial.
ESCROW PAYMENTS: All services previously performed related to your loan will continue. Should you receive notification that any portion of your taxes or insurance was not paid, notify your loan officer immediately.
LOANS IN PROCESS: Please contact your current loan officer directly.
SHARES OF STOCK: All shares of stock were owned by the holding company, Rising Sun Bancorp, Inc., Rising Sun, MD. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Rising Sun Bancorp, Inc., please do not contact or file a claim with the receiver. You must contact the holding company directly for more information:
Rising Sun Bancorp, Inc.
6 Pearl Street
Rising Sun, MD 21911
CLAIMS: Please send claims to the following address:
FDIC as Receiver for NBRS Financial
1601 Bryan Street, Suite 1410
Dallas, TX 75201-3479
Attention: Claims Agent
DEPOSIT INSURANCE INFORMATION: If you have accounts in both the failed bank and Howard Bank, they will be 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 1-800 930-1848
Hours of Operation – Eastern Time
Friday, October 17, 2014: Until 9:00 p.m.
Saturday, October 18, 2014: 9:00 a.m. – 6:00 p.m.
Sunday, October 19, 2014: Noon – 6:00 p.m.
Monday, October 20, 2014: 8:00 a.m. – 8:00 p.m.
Thereafter: 9:00 a.m. – 5:00 p.m.
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. If you are contacted by anyone requesting personal information from you related to this event, please contact the FDIC Call Center listed above to report the incident.
For more information: www.fdic.gov/bank/individual/failed/nbrs.html