The Federal Deposit Insurance Corporation (FDIC) took over 5 banks on Friday, July 31, 2009. These closings bring the total for the month to 24 banks and the total for the year to 69. The banks closed are located in New Jersey, Ohio, Florida, Illinois, and Oklahoma. The banks include First BankAmericano, Elizabeth, New Jersey, Peoples Community Bank, West Chester, Ohio, Integrity Bank, Jupiter, Florida, Mutual Bank, Harvey, Illinois, and First State Bank of Altus, Altus, Oklahoma.
Details for each bank are included below for affected customers:First BankAmericano, Elizabeth, New Jersey
First BankAmericano, Elizabeth, New Jersey, was closed today by the New Jersey Department of Banking and Insurance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Crown Bank, Brick, New Jersey, to assume all of the deposits of First BankAmericano.
First BankAmericano's six branches will reopen on Saturday as branches of Crown Bank. Depositors of First BankAmericano will automatically become depositors of Crown Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Crown Bank can fully integrate the deposit records of First BankAmericano.
Peoples Community Bank, West Chester, Ohio
Peoples Community Bank, West Chester, Ohio, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Financial Bank, National Association, Hamilton, Ohio, to assume all of the deposits of Peoples Community Bank.
The 19 branches of Peoples Community Bank will reopen on Monday as branches of First Financial Bank, N.A. Depositors of Peoples Community Bank will automatically become depositors of First Financial Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use the existing branches until First Financial Bank, N.A. can fully integrate the deposit records of Peoples Community Bank.
Integrity Bank, Jupiter, Florida
Integrity Bank, Jupiter, Florida, was closed today by the Florida Office of Financial Regulation, which appointed theFDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Integrity Bank.
The sole office of Integrity Bank will reopen on Monday as a branch of Stonegate Bank. Depositors of Integrity Bank will automatically become depositors of Stonegate Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Stonegate Bank can fully integrate the deposit records of Integrity Bank.
First State Bank of Altus, Altus, Oklahoma
First State Bank of Altus, Altus, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Herring Bank, Amarillo, Texas, to assume all of the deposits of First State Bank of Altus.
First State Bank of Altus's branches will reopen on Saturday as branches of Herring Bank. Depositors of First State Bank of Altus will automatically become depositors of Herring Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Herring Bank can fully integrate the deposit records of First State Bank of Altus.
Mutual Bank, Harvey, Illinois
Mutual Bank, Harvey, Illinois, was closed today by the Illinois Department of Financial Professional Regulation - Division of Banking, 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 Central Bank, Garland, Texas, to assume all of the deposits of Mutual Bank.
Mutual Bank's 12 branches will reopen on Saturday during normal business hours as branches of United Central Bank. Depositors of Mutual Bank will automatically become depositors of United Central Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until United Central Bank can fully integrate the deposit records of Mutual Bank.
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