Skip Header
U.S. flag

An official website of the United States government

Press Releases

United Fidelity Bank, fsb, Evansville, Indiana, Assumes All of the Deposits of Columbia Savings Bank, Cincinnati, Ohio

May 23, 2014
Media Contact:
LaJuan Williams-Young
Office: 202-898-3876
Cell: 571-215-6027

Columbia Savings Bank, Cincinnati, Ohio, was closed today by the Ohio Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Fidelity Bank, fsb, Evansville, Indiana, to assume all of the deposits of Columbia Savings Bank.

The sole branch of Columbia Savings Bank will reopen as a branch of United Fidelity Bank, fsb during their normal business hours. Depositors of Columbia Savings Bank will automatically become depositors of United Fidelity Bank, fsb. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Columbia Savings Bank should continue to use their current branch until they receive notice from United Fidelity Bank, fsb that systems conversions have been completed to allow full-service banking at all branches of United Fidelity Bank, fsb.

Depositors of Columbia Savings Bank can continue to access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2014, Columbia Savings Bank had approximately $36.5 million in total assets and $29.5 million in total deposits. In addition to assuming all of the deposits of the Columbia Savings Bank, United Fidelity Bank, fsb agreed to purchase essentially all of the failed bank's assets.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-894-2810. The phone number will be operational this evening until 9:00 p.m.; Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8:00 a.m. to 8:00 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT. Interested parties also can visit the FDIC's Web site at

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.3 million. Compared to other alternatives, United Fidelity Bank, fsb's acquisition was the least costly resolution for the FDIC's DIF. Columbia Savings Bank is the eighth FDIC-insured institution to fail in the nation this year, and the first in Ohio. The last FDIC-insured institution closed in the state was Bramble Savings Bank, Milford, on September 17, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 6,812 as of December 31, 2013. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at, by subscription electronically (go to and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-36-2014