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Federal Deposit
Insurance Corporation

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

Question and Answer Guide

Bank of Wyoming Thermopolis, WY

FDIC Call Center
Toll free number 1-866-806-6128
Hours of Operation – Mountain Time
Friday, July 10, 2009:  Until 9:00 p.m.
Saturday, July 11, 2009:  9:00 a.m. – 6:00 p.m.
Sunday, July 12, 2009:  Noon – 6:00 p.m.
Thereafter:  8:00 a.m. – 8:00 p.m.

On July 10, 2009, Bank of Wyoming Thermopolis, WY, was closed by the State of Wyoming, Department of Audit, Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was then named receiver. Subsequent to the closure, Central Bank & Trust, Lander, WY acquired all the deposits, except some brokered deposits, and assets of Bank of Wyoming from the FDIC as receiver for Bank of Wyoming. Any claims by equity holders were not acquired.

The total balance in your account(s) has been transferred to Central Bank & Trust and will be available for transactions during regular business hours at the former Bank of Wyoming starting on Monday, July 13, 2009.

You may continue to use your same checks, ATM cards and debit cards until notified.

All direct deposits, including Social Security checks, will continue as usual.

Account(s): What about my account with Bank of Wyoming?

If you had an account with Bank of Wyoming, you now have an account with Central Bank & Trust, Lander, WY. All deposit accounts, which include Checking, Savings, Money Market, CDs and Retirement accounts, have been transferred to Central Bank & Trust, regardless of the dollar amount. No one lost any money on deposit in Bank of Wyoming.

Customers of both banks should continue to use their existing branches until Central Bank & Trust can fully integrate the deposit records of Bank of Wyoming.

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 scams to obtain information from you.

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ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with Bank of Wyoming?

Your ATM/debit card will continue to work, and bill paying will work as it has in the past.

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Brokered Deposits: I am a deposit broker or have brokered deposits. What do I do?

As an All-Deposit Transfer transaction, the total of all deposit accounts, excluding the Cede & Co brokered deposits, have been assumed by Central Bank & Trust. The FDIC retained the Cede & Co brokered deposits and will pay those accounts off directly.

If you are a customer who has a Bank of Wyoming deposit through a broker, you MUST contact your broker with any questions.

Be advised, however, that from and after the date of closing, Central Bank & Trust will accrue and pay interest on deposit liabilities at a rate it shall determine; accordingly, Central Bank & Trust shall permit depositors, including brokered depositors, impacted by reduced rates to withdraw their deposits without penalty for early withdrawal.

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Direct Deposits - Government Deposits: What will happen to my direct deposits?

Direct Deposits, including Social Security checks, will continue as normal.

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Existing Deposits at Central Bank & Trust: I already have other deposit accounts with the new bank.  When combined with balances at this bank, my deposits exceed $250,000.  Are all funds insured?

The accounts transferred to Central Bank & Trust will be separately insured for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the failed 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.

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Interest Rates, Early Withdrawal Penalty: Will I continue to earn interest at the same rate?  Will I be charged an early withdrawal penalty?

All interest on insured deposits accrued through Friday, July 10, 2009, will be paid at your same rate. Central Bank & Trust will review rates and notify you.

You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank. Entering into a new deposit agreement can be done by either renewing your CD or making a deposit to, or a withdrawal from, your account.

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Loans/mortgages: What about my loan or mortgage with Bank of Wyoming?

Most mortgages and loans will be purchased by Central Bank & Trust. Your payment amount and due date are the same. If you are having your payment deducted from your account, it will continue as it has in the past. You should continue to make your checks payable to Bank of Wyoming and send your payments to the same address. Contact your loan officer with any questions about your loan or mortgage.

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Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer.  All prior contacts remain the same.

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Offers to purchase other real estate: I was in the process of negotiating the purchase of real property held by Bank of Wyoming. Will my offer still be considered?

The FDIC will review offers made to purchase real property from the former Bank of Wyoming and will respond to the offers as soon as possible. The review process includes ordering a new appraisal, which could take up to 60 days or more.

The FDIC as Receiver has hired CB Richard Ellis (CBRE) to handle the management and disposition of real property acquired from the institution. If you have questions regarding the status of your offer please feel free to contact CBRE directly. Below is the contact information for CBRE:

Kim Celoni
CB Richard Ellis / Global Corporate Services
FDIC Account
2001 Ross Avenue, Suite 3300 I
Dallas, TX 75201
1-866-260-8505; 214-863-3035

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Media: I represent a TV/Newspaper/Radio and would like some information.

Please contact the Office of Public Affairs:

David Barr

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Outstanding Checks: What about checks that I have written on my account with Bank of Wyoming?

Your checks will clear up to the available balance in your account. You can continue to use your existing checks.

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Safe Deposit Boxes: How can I claim the contents of my safe deposit box?

It is business as usual.  You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.

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Shareholders: What about my shares of stock?

There was no publicly owned stock in Bank of Wyoming. If you are an equity shareholder, your shares are in State Holding Company, Thermopolis, WY, the holding company for Bank of Wyoming, and not the institution. Any claims by equity holders were not acquired. The holding company and the interests of equity, debt holders or other creditors of the holding company are not included in the closure or receivership of the institution. Please do not file a claim with the Receiver, rather contact the holding company directly for information:

State Holding Company
435 Arapahoe Street
Thermopolis, WY 82443

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Transaction Types: Why do all deposits, insured or not, pass in some transactions but not in others?

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 has been able to transfer all deposits in about 25% of the failures over the past 15 years.

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Unpaid Bills: I did some work for the bank and have not been paid. What should I do?

All claims against Bank of Wyoming, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

FDIC as Receiver for Bank of Wyoming
1601 N. Bryan Street
Dallas, TX  75201-3430
Attention: Claims Agent

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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 private 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:

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