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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Question and Answer Guide

North Milwaukee State Bank, Milwaukee, WI

The following list of responses to frequently asked questions may assist you in understanding what is happening at North Milwaukee State Bank.

On Friday, March 11, 2016, North Milwaukee State Bank, Milwaukee, WI was closed by the Wisconsin Department of Financial Institutions. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, First-Citizens Bank & Trust Company, Raleigh, NC acquired all deposits and substantially all the assets of North Milwaukee State Bank 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 First-Citizens Bank & Trust Company.

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, has been transferred to First-Citizens Bank & Trust Company 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, disability, unemployment or any payment you receive electronically will continue as usual.

AUTOPAYMENTS/BILL PAY/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 First-Citizens Bank & Trust Company.

INTEREST RATES: Interest on deposits accrued through close of business on Friday, March 11, 2016, will be paid at your same rate. North Milwaukee State Bank’s rates will be reviewed by First-Citizens Bank & Trust Company 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 First-Citizens Bank & Trust Company.

BROKERED DEPOSITS: The total of all deposit accounts, excluding the Cede & Co. deposits, have been assumed by First-Citizens Bank & Trust Company. If you are a customer who has a North Milwaukee State Bank deposit through a broker, you must contact your broker with any questions.

TAX REPORTING – 1098 AND/OR 1099: First-Citizens Bank & Trust Company 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 First-Citizens Bank & Trust Company.

OVERDRAFT LINES OF CREDIT: These lines have been transferred to First-Citizens Bank & Trust Company. Please contact First-Citizens Bank & Trust Company 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 North Milwaukee State Bank.

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, North Milwaukee Bancshares, Inc., Milwaukee, WI. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of North Milwaukee Bancshares, Inc., please do not contact or file a claim with the Receiver. You must contact the holding company directly for more information:

North Milwaukee Bancshares, Inc.
5630 West Fond Du Lac Avenue
Milwaukee, WI 53216

CLAIMS: Please send claims to the following address:

FDIC as Receiver for North Milwaukee State Bank
1601 Bryan Street
Dallas, TX  75201
Attention: Claims Agent

DEPOSIT INSURANCE INFORMATION: If you have accounts in both the failed bank and First-Citizens Bank & Trust Company, 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 1-800-830-4706
Hours of Operation – Central Time
Friday, March 11, 2016: Until 9:00 p.m.
Saturday, March 12, 2016: 9:00 a.m. – 6:00 p.m.
Sunday, March 13, 2016: Noon – 6:00 p.m.
Monday, March 14, 2016: 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 North Milwaukee State Bank, First-Citizens Bank & Trust Company, 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:

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