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Insurance Corporation

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Failed Bank Information
Information for Waterford Village Bank, Williamsville, NY
  1. Introduction
  2. Press Release
  3. Acquiring Financial Institution
  4. Priority of Claims
  5. Dividend Information
  6. Purchase and Assumption Agreement (1.1 mb PDF File - PDF Help)
  7. Bid Summary
  8. Receivership Termination
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I.  Introduction
On Friday, July 24, 2009, Waterford Village Bank, Williamsville, NY was closed by the New York State Banking Department, 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.
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II.  Press Release
The FDIC has issued a press release (PR-129-2009) about the institution's closure.  If you represent a media outlet and would like information about the closure, please contact David Barr at 202-898-6992.
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III.  Acquiring Financial Institution
All deposit accounts have been transferred to Evans Bank, National Association, Angola, NY ("assuming institution") and will be available immediately.  On Monday, July 27, 2009, the former Waterford Village Bank location will reopen as a branch of Evans Bank, National Association.

Your transferred deposits will be separately insured from any accounts you may already have at Evans Bank, National Association for six months after the failure of Waterford Village Bank. Checks that were drawn on Waterford Village Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.  If you have questions about your account(s) transferred to the assuming bank, you may speak to an FDIC representative regarding deposit insurance by calling 1-800-323-6111.

For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the FDIC's Electronic Deposit Insurance Estimator.

EDIE - FDIC's Electronic Deposit Insurance Estimator

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Evans Bank, National Association as long as the deposits are not pledged as collateral for loans. You may view more information about Evans Bank, National Association by visiting their web site.

Evans Bank, National Association (www.evansbank.com)

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IV.  Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
  1. Depositors
  2. General Unsecured Creditors
  3. Subordinated Debt
  4. Stockholders
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V.  Dividend Information
Dividend History on Waterford Village Bank

Dividend Information on Failed Financial Institutions
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VIII.  Receivership Termination
The FDIC as Receiver for Waterford Village Bank, has taken all actions necessary to terminate the Receivership Estate.

The Receiver published a legal notice of intent to terminate the receivership on July 23, 2013.

The Receiver has made all dividend distributions required by law.

Effective November 1, 2013, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.
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General Disclaimer

Last Updated 11/01/2013 cservicefdicdal@fdic.gov