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Failed Bank List

Failed Bank Information for First City Bank of Florida, Fort Walton Beach, FL

On Friday, October 16, 2020, First City Bank of Florida was closed by the Florida Office of Financial Regulation. The FDIC was named Receiver. No advance notice is given to the public when a financial institution is closed. United Fidelity Bank, fsb, Evansville, IN acquired all deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.

At a Glance

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FAQs — PDF
Responses to common questions
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Press Release
Official Press Release
Icon for Balance Sheet
Balance Sheet
Available at quarter end
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Dividend Information
None Paid to Date
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If You Had a Deposit Account

The full balance of all deposit accounts has been transferred to United Fidelity Bank, fsb.

You may continue to use your checks and ATM/Debit card. Direct deposits like paychecks and social security benefits will continue as usual. Please refer to the Banking Services section below for more details.

The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.

EDIE — Electronic Deposit Insurance Estimator
Calculate insurance coverage of deposit accounts

Facts for Depositors
General information explaining the role of FDIC

Two people being consulted by a loan officer

If You Had a Loan

You should continue to make payments, including escrow payments, as usual; the terms of your loan will not change.

If your loan is currently in process or you had a line of credit, contact your loan officer.

Borrowers whose finances are impacted by the coronavirus pandemic should contact their original loan officers or call the contact information provided in their loan statements before addressing requests for modifications to United Fidelity Bank, fsb. If you are making escrow payments and receive notification that any portion of your taxes or insurance was not paid, contact your loan officer.

If you received notice that the FDIC retained your loan, and you have questions, please visit the FDIC Information and Support Center.

Obtaining a Lien Release
Process on getting a release of lien

Borrower’s Guide to an FDIC Insured Bank Failure
Overview of how FDIC processes loans

Facts for Borrowers
General information explaining the role of FDIC

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If You Are Owed Money for a Service or Product Provided

You may be eligible to file a claim against First City Bank of Florida.

If you have not been paid for services rendered prior to Friday, October 16, 2020, please refer to the Filing Claims section below.

Facts for Creditors
General information explaining the role of FDIC

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Beware of Scams
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

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Centers for Disease Control Guidance
The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.

Acquiring Institution: United Fidelity Bank, fsb

About United Fidelity Bank, fsb
All deposit accounts have been transferred to United Fidelity Bank, fsb, Evansville, IN ("assuming institution") and will be available immediately. The former First City Bank of Florida locations will reopen as branches of United Fidelity Bank, fsb during regular business hours. The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.

Your transferred deposits will be separately insured from any accounts you may already have at United Fidelity Bank, fsb for at least six months after the failure of First City Bank of Florida. Checks that were drawn on First City Bank of Florida that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.

All interest accrued through Friday, October 16, 2020 will be paid at your same rate. United Fidelity Bank, fsb will be reviewing rates. You will be notified of any changes. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with United Fidelity Bank, fsb as long as the deposits are not pledged as collateral for loans.

Contacting United Fidelity Bank, fsb
You can contact United Fidelity Bank, fsb:

United Fidelity Bank, fsb
18 NW Fourth Street
Evansville, IN 47708

United Fidelity Bank, fsb (www.unitedfidelity.com)

Transaction Documentation
Purchase & Assumption Agreement - PDF

Agreement between FDIC and the acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Brokered Accounts

As an All Deposits transaction, the total of all deposit accounts, including brokered deposits, has been assumed by United Fidelity Bank, fsb.

Deposit Broker's Processing Guide

Banking Services

Automatic Payments/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 United Fidelity Bank, fsb.

ATM and Debit Cards
Your ATM/Debit card will continue to work as usual.

Checks
Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s). United Fidelity Bank, fsb will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office.

Direct Deposit
All direct deposits, for example, social security checks, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.

Overdraft Lines of Credit
These lines have been transferred to United Fidelity Bank, fsb. Please contact United Fidelity Bank, fsb if you have additional questions regarding your accounts.

Safe Deposit Boxes
You will have access to your safe deposit boxes; however, you should call your branch to arrange an appointment. Any changes will be communicated by United Fidelity Bank, fsb.

Tax Reporting — 1098 and/or 1099
United Fidelity Bank, fsb 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.

Filing Claims

Creditors
If you or your company provided a service or product, leased space, furniture, or equipment to First City Bank of Florida prior to Friday, October 16, 2020 and have not been paid, you may have a claim against First City Bank of Florida.

All creditors having claims against First City Bank of Florida must submit their claims to the Receiver online or by mail.

In order to facilitate the receipt of correspondence related to the Receiver’s administrative claims process during this period of national emergency, any party/claimant who would normally send hardcopy mail to an FDIC facility related to the Receivership is encouraged to send electronic communication inquiries through email (nondepclaimsdal@fdic.gov) or the FDIC Information and Support Center.

In addition, any party/claimant who normally would send a Receivership claim submission via hardcopy mail is encouraged to submit the claim through the Non-Deposit Claims Web portal (https://www5.fdic.gov/NDCWeb) or through email (nondepclaimsdal@fdic.gov).

Online:

FDIC NDCWeb (www5.fdic.gov/NDCWeb)

Mail:

FDIC as Receiver for First City Bank of Florida
Attention: Claims Agent
1601 Bryan Street
Dallas, TX 75201

NOTE TO CLASS CLAIMANTS: By law, the Receiver will not accept a claim filed on behalf of a proposed class of individuals or entities or a class of individuals or entities certified by a court. EACH individual or entity must file a separate claim with the Receiver.

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

For Stockholders of Florida First City Banks, Inc.

Stockholders
All shares of First City Bank of Florida are owned by its holding company, Florida First City Banks, Inc., Fort Walton Beach, FL. The holding company was not included in the closing of the bank or resulting receivership.

Contacting the Holding Company
If you are a stockholder, please do not contact or file a claim with the Receiver. You must contact the holding company directly:
Florida First City Banks, Inc.
P.O. Box 2977
Fort Walton Beach, Florida 32549

Contact Information

Questions About This Closing
Contact the FDIC Customer Service Department at (888) 206-4662.

Hours of Operation — Central Time
Monday – Friday (excluding federal holidays): 8:00 AM – 4:00 PM