The Federal Deposit Insurance Corporation (FDIC) took over 7 banks on Friday, October 23, 2009. These closings bring the total for the year to 106. The banks closed are located in Illinois, Minnesota, Wisconsin, Florida, and Georgia. The banks include First Dupage Bank, Westmont, Illinois, Riverview Community Bank, Otsego, Minnesota, Bank of Elmwood, Racine, Wisconsin, Hillcrest Bank Florida, Naples, Florida, Flagship National Bank, Bradenton, Florida, American United Bank, Lawrenceville, Georgia, and Partners Bank, Naples, Florida.
Details for each bank are included below for affected customers:First Dupage Bank, Westmont, Illinois
First Dupage Bank, Westmont, Illinois, was closed today by the Illinois Department of Financial & Professional Regulation - Division of Banking, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois, to assume all of the deposits of First Dupage Bank.
The sole branch of First Dupage Bank will reopen on Saturday as a branch of First Midwest Bank. Depositors of First Dupage Bank will automatically become depositors of First Midwest 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 First Midwest Bank can fully integrate the deposit records of First Dupage Bank.
Riverview Community Bank, Otsego, Minnesota
Riverview Community Bank, Otsego, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Riverview Community Bank.
The two branches of Riverview Community Bank will reopen on Saturday as branches of Central Bank. Depositors of Riverview Community Bank will automatically become depositors of 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 Central Bank can fully integrate the deposit records of Riverview Community Bank.
Bank of Elmwood, Racine, Wisconsin
Bank of Elmwood, Racine, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Tri City National Bank, Oak Creek, Wisconsin, to assume all of the deposits of Bank of Elmwood.
The five branches of Bank of Elmwood will reopen on Saturday as branches of Tri City National Bank. Depositors of Bank of Elmwood will automatically become depositors of Tri City National 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 branch until Tri City National Bank can fully integrate the deposit records of Bank of Elmwood.
Hillcrest Bank Florida, Naples, Florida
Hillcrest Bank Florida, Naples, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the FDIC 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 Hillcrest Bank Florida.
The six branches of Hillcrest Bank Florida will reopen on Monday as branches of Stonegate Bank. Depositors of Hillcrest Bank Florida 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 Hillcrest Bank Florida.
Flagship National Bank, Bradenton, Florida
Flagship National Bank, Bradenton, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank of Florida, Lake City, Florida, to assume all of the deposits of Flagship National Bank.
The four branches of Flagship National Bank will reopen on Monday as branches of First Federal Bank of Florida. Depositors of Flagship National Bank will automatically become depositors of First Federal Bank of Florida. 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 branch until they receive notice from First Federal Bank of Florida that it has completed systems changes to allow other First Federal Bank of Florida branches to process their accounts as well.
American United Bank, Lawrenceville, Georgia
American United Bank, Lawrenceville, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to assume all of the deposits of American United Bank.
The sole branch of American United Bank will reopen on Monday as a branch of Ameris Bank. Depositors of American United Bank will automatically become depositors of Ameris 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 branch until they receive notice from Ameris Bank that it has completed systems changes to allow other Ameris Bank branches to process their accounts as well.
Partners Bank, Naples, Florida
Partners Bank, Naples, Florida, 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 Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Partners Bank.
The two branches of Partners Bank will reopen on Monday as branches of Stonegate Bank. Depositors of Partners 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 branch until they receive notice from Stonegate Bank that it has completed systems changes to allow other Stonegate Bank branches to process their accounts as well.
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