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Question and Answer Guide

Florida Community Bank, Immokalee, FL

En Español

FDIC Call Center
Toll free number 1-800-523-8275
Hours of Operation – Eastern Time
Friday, January 29, 2010:  Until 9:00 p.m.
Saturday, January 30, 2010:  9:00 a.m. – 6:00 p.m.
Sunday, January 31, 2010:  Noon – 6:00 p.m.
Thereafter:  8:00 a.m. – 8:00 p.m.

On Friday, January 29, 2010, Florida Community Bank, Immokalee, Florida was closed by the State of Florida Office of Financial Regulation. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver of the failed institution. Subsequent to the closure Premier American Bank, National Association (N.A.), Miami, Florida, assumed substantially all the deposits and certain assets of Florida Community Bank from the FDIC as Receiver for Florida Community Bank. Premier American Bank, N.A. will operate all the branches of Florida Community Bank under their former name Florida Community Bank. Any claims by equity holders were not acquired.

The total balance in your account(s) has been transferred to Premier American Bank, N.A. and will be available for transactions during regular business hours at the former Florida Community Bank branches.

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 Florida Community Bank?

If you had an account with Florida Community Bank, you now have an account with Premier American Bank, N.A., operating all branches of Florida Community Bank under their former name. All deposit accounts, excluding the Cede & Co. brokered deposits, have been assumed by Premier American Bank, N.A. which include checking, savings, money market, CDs and retirement accounts, have been transferred to Premier American Bank, N.A., regardless of the dollar amount. No one lost any money on deposit in Florida Community Bank.

Customers should continue to use their existing branches.

To forewarn you of any scams, please be advised that you will not receive any notification from the FDIC, the Receiver, or Premier American Bank, N.A. to provide any private information. Please be watchful for and resist any such scams to obtain information from you by individuals or entities purporting to act on behalf of Florida Community Bank, Premier American Bank, N.A., or the FDIC.

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

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 Premier American Bank, N.A. The FDIC retained the Cede & Co. brokered deposits and will pay those accounts off directly.

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

If you are a customer who has a Florida Community Bank deposit through a broker, you must contact your broker with any questions.

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

Interest on all deposits accrued through Friday, January 29, 2010, will be paid at your same rate. Premier American Bank, N.A. will review rates and notify you if interest rates will change. Your interest rate may be reduced.

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 Florida Community Bank?

Certain mortgages and loans have been assumed by Premier American Bank, N.A. 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 Florida Community Bank and send your payments to the same address.

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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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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 Florida Community Bank?

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?

All shares of Florida Community Bank were owned by its holding company, Florida Community Banks, Inc., Immokalee, Florida. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Florida Community Banks, Inc. please do not contact or file a claim with the Receiver. You may contact Florida Community Banks, Inc. directly for information as follows:

Florida Community Banks, Inc.
1400 North 15th Street
Immokalee, FL 34142

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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 had been for the FDIC to transfer only the insured deposits in a Purchase and Assumption transaction; however, the temporary increase in the deposit insurance limit has assisted in the transfer of all deposits more often in the past year.

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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 Florida Community Bank, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

Federal Deposit Insurance Corporation
Receiver: Florida Community Bank
1601 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 personal 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: