June 4, 2010
To Whom It May Concern:
On June 4, 2010, the Illinois Department of Financial and Professional
Regulation – Division of Banking closed the Arcola Homestead Savings
Bank of Arcola, Illinois. Subsequently, the Federal Deposit Insurance
Corporation (FDIC) was appointed as Receiver to handle all matters relating
to the failed institution.
Because there was not an acquiring financial institution to assume the
deposits, any outstanding checks are being returned “Bank Closed.” This
situation was the result of the bank failure and is no reflection on
the depositor. Since the depositor of the failed bank was not aware of
the potential receivership, they believed these checks would clear in
the normal course of business. Therefore, we ask that you consider waiving
any returned check charges and penalties due to these special circumstances.
Your cooperation and understanding are greatly appreciated. If you have any questions, please contact FDIC Customer Service for Arcola Homestead Savings Bank at 1-800-238-8209.
Division of Resolution and Receiverships
Federal Deposit Insurance Corporation