Community Bank of West Georgia
Community Bank of West Georgia, Villa Rica, Georgia, was closed on June 26, 2009 by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC will mail checks to insured depositors for their insured funds on Monday morning, June 29, 2009.
Direct deposits from the federal government, such as Social Security and Veterans' payments, will be transferred to United Community Bank, Blairsville, Georgia. Customers will need to claim their incoming government ACH direct deposits in person at United Bank's Villa Rica branch.
Customers of Community Bank of West Georgia with brokered deposits should contact their brokers about the status of their accounts. The FDIC will provide payment for insured brokered deposits once brokers provide the FDIC with the necessary documents to identify customers and permit a determination of their insured deposit.
Neighborhood Community Bank
Neighborhood Community Bank, Newnan, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CharterBank, West Point, Georgia, to assume all of the deposits of Neighborhood Community Bank.
The four offices of Neighborhood Community Bank will reopen as branches of CharterBank. All of the offices will maintain normal business hours. Depositors of Neighborhood Community Bank will automatically become depositors of CharterBank. 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 CharterBank can fully integrate the deposit records of Neighborhood Community Bank. Depositors of Neighborhood Community Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Horizon Bank
Horizon Bank, Pine City, Minnesota, was closed on June 26, 2009 by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of Horizon Bank.
The two offices of Horizon Bank will reopen on Saturday as branches of Stearns Bank, N.A. Depositors of Horizon Bank will automatically become depositors of Stearns 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 their existing branches until Stearns Bank, N.A. can fully integrate the deposit records of Horizon Bank. Depositors of Horizon Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
MetroPacific Bank
MetroPacific Bank, Irvine, California was closed on June 26, 2009 by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sunwest Bank, Tustin, California, to assume all of the deposits of MetroPacific Bank, excluding those from brokers.
MetroPacific Bank's sole office will reopen on Monday, as a branch of Sunwest Bank. Depositors of MetroPacific Bank will automatically become depositors of Sunwest 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 Sunwest Bank can fully integrate the deposit records of MetroPacific Bank.
Mirae Bank
Mirae Bank, Los Angeles, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Wilshire State Bank, Los Angeles, California, to assume all of the deposits of Mirae Bank.
The five offices of Mirae Bank will reopen on Monday as branches of Wilshire State Bank. Depositors of Mirae Bank will automatically become depositors of Wilshire State 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 of both banks should continue to use their existing branches until Wilshire State Bank can fully integrate the deposit records of Mirae Bank.
