Informative status
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Orders and Statements issued by the Federal Deposit Insurance Corporation (and subsequent modifications to Orders) related to applications filed by individuals and other entities for approval to establish new depository institutions. Click the links below to view the Orders, Statements, and Modifications dated after 1/1/2008.
Summary Box
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Small business ownership can help individuals and families nationwide achieve financial stability and build long-term wealth.
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On <%CLOSINGDAY%>, <%CLOSINGDATE%>, <%FAILEDBANK%>, was closed by the <%CLOSINGORGANIZATION%> and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. To protect depositors, the FDIC transferred the insured deposits and substantially all of the assets of <%FAILEDBANK%> to <%BRIDGEBANK%>, a full-service bank that will be operated by the FDIC.
If You Had a Deposit Account
Depositors of <%FAILEDBANK%> will automatically become depositors of <%BRIDGEBANK%>. All insured deposits <%including brokered deposits%> OR <%excluding certain brokered deposits%> assumed by <%BRIDGEBANK%> , will continue to be insured by the FDIC up to the insurance limit.
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.
EDIE — Electronic Deposit Insurance Estimator
Calculate insurance coverage of deposit accounts
Facts for Depositors
General information explaining the role of FDIC
If You Had a Loan
You should continue to make payments, including escrow payments, as usual; the terms of your loan will not change. You may continue to send your payments to the same payment address with checks made payable to <%FAILEDBANK%>. You will receive a letter advising you of any changes.
If you received notice that the FDIC retained your loan, and you have questions, please send an email to FDIC_Loans@fdic.gov, or 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
If You Are Owed Money for a Service or Product Provided
You may be eligible to file a claim against the FDIC as Receiver.
If you have not been paid for services rendered prior to <%CLOSINGDATE%>, please refer to the Filing Claims section below.
Facts for Creditors
General information explaining the role of FDIC
Beware of Scams
If you are concerned about becoming a victim of fraud, be advised that you will not receive any communication from the FDIC requesting any private information. Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating they are acting on behalf of <%FAILEDBANK%>, <%BRIDGEBANK%>, or the FDIC. The FDIC, however, will encourage you to correspond with us via the FDIC Claims Portal, a secure web portal.
Acquiring Institution: <%BRIDGEBANK%>
About <%BRIDGEBANK%>
All deposits and substantially all assets have been transferred to <%BRIDGEBANK%>, a full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of <%FAILEDBANK%>.
<%BRIDGEBANK%> resumed normal banking hours and activities on <%FOLLOWINGBUSINESSDAY%>. Depositors and borrowers automatically became customers of <%BRIDGEBANK%> and have customer service and access to their funds by ATM, debit cards, and writing checks in the same manner as before. <%FAILEDBANK%>’s official checks will continue to clear. Loan customers should continue making loan payments as usual.
The Receiver for <%FAILEDBANK%> has also transferred all Qualified Financial Contracts (as defined in 12 USC 1821(e)) of the failed bank to the bridge bank.
A bridge bank is a chartered national bank that operates under a board appointed by the FDIC. It assumes the deposits and certain other liabilities and purchases certain assets of a failed bank. The bridge bank structure is designed to “bridge” the gap between the failure of a bank and the time when the FDIC can stabilize the institution and implement an orderly resolution.
Contacting <%BRIDGEBANK%>
<%BRIDGEBANK%>
<%BRIDGEBANKADDRESSLINE1%>
<%BRIDGEBANKADDRESSLINE2%>
<%BRIDGEBANK%> (<%BRIDGEBANKURL%>)
Brokered Accounts
All deposits <%including brokered deposits%> OR <%excluding certain brokered deposits%> have been assumed by <%BRIDGEBANK%>. If you are a customer who has a <%FAILEDBANK%> deposit through a broker, you must contact your broker with any questions.
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 <%BRIDGEBANK%>.
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). <%BRIDGEBANK%> 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, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.
Certificates of Deposit (CDs)
Interest on deposits accrued through close of business on <%CLOSINGDATE%>, will be paid at your same rate. <%FAILEDBANK%> rates will be reviewed by <%BRIDGEBANK%> and you will be notified in writing of any changes. You may withdraw funds from any transferred account without early withdrawal penalty until you enter into a new deposit agreement with <%BRIDGEBANK%>.
Overdraft Lines of Credit
These lines have been transferred to <%BRIDGEBANK%>. Please contact <%BRIDGEBANK%> 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 <%BRIDGEBANK%>.
Tax Reporting — 1098 and/or 1099
<%BRIDGEBANK%> 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.
Creditors
If you or your company provided a service or product, leased space, furniture, or equipment to <%FAILEDBANK%> prior to <%CLOSINGDATE%>, and have not been paid, you may have a claim against <%FAILEDBANK%>.
Any party/claimant who wishes to submit a receivership claim for<%FAILEDBANK%>, may do so either electronically or by mail. To avoid delays, however, you are encouraged to utilize the Non-Deposit FDIC Claims Portal or the FDIC Claims email NonDepClaimsDal@fdic.gov.
Online:
Email:
Mail:
FDIC as Receiver for <%FAILEDBANK%>
Attention: Claims Agent
600 North Pearl Street
Suite 700
Dallas, TX 75201
Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
For Shareholders of <%HOLDINGCOMPANY%>
Shareholders
All shares of <%FAILEDBANK%> are owned by its holding company, <%HOLDINGCOMPANY,CITY,ST%>. The holding company was not included in the closing of the bank or resulting receivership.
Contacting the Holding Company
If you are a shareholder, please do not contact or file a claim with the Receiver. You must contact the holding company directly:
<%HOLDINGCOMPANY%>
<%HOLDINGCOMPANYADDRESSLINE1%>
<%HOLDINGCOMPANYADDRESSLINE2%>
Contact Information
Questions About This Closing
Contact the FDIC Customer Service Department at <%CALLCENTERNUMBER%>.
| Hours of Operation | <%TIMEZONE%> Time |
|---|---|
| <%CLOSINGDAY%>, <%CLOSINGDATE%> | <%DAYTIME1%> |
| <%DAY2%> | <%DAYTIME2%> |
| <%DAY3%> | <%DAYTIME3%> |
| <%DAY4%> | <%DAYTIME4%> |
| Thereafter: | <%DAYTIME5%> |