The Federal Deposit Insurance Corporation took over 4 banks on Friday, July 17, 2009. The banks taken over include 2 in California, 1 in Georgia, and 1 in South Dakota. These takeovers bring the total for the year to 57 banks. The banks include Temecula Valley Bank, Temecula, California, Vineyard Bank, Rancho Cucamonga, California, BankFirst, Sioux Falls, South Dakota, and First Piedmont Bank, Winder, Georgia.

By comparison, only 2 credit unions have been closed so far this year. If you have not made the switch to a credit union yet, find a credit union using Credit Unions Online list of credit unions.

Details for each bank are included below for affected customers:

Temecula Valley Bank, Temecula, California

Temecula Valley Bank, Temecula, California, 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 First-Citizens Bank and Trust Company, Raleigh, North Carolina, to assume all of the deposits of Temecula Valley Bank, excluding those from brokers.

Temecula Valley Bank's eleven offices will reopen on Monday as branches of First-Citizens Bank and Trust Company. Depositors of Temecula Valley Bank will automatically become depositors of First-Citizens Bank and Trust Company. 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-Citizens Bank and Trust Company can fully integrate the deposit records of Temecula Valley Bank.

Vineyard Bank, Rancho Cucamonga, California

Vineyard Bank, National Association, Rancho Cucamonga, California, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with California Bank & Trust, San Diego, California, to assume all of the deposits of Vineyard Bank, N.A., excluding those from brokers.

Vineyard Bank, N.A.'s sixteen offices will reopen as branches of California Bank & Trust during normal business hours. Depositors of Vineyard Bank, N.A. will automatically become depositors of California Bank & Trust. 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 California Bank & Trust can fully integrate the deposit records of Vineyard Bank, N.A.

BankFirst, Sioux Falls, South Dakota

BankFirst, Sioux Falls, South Dakota, was closed today by the South Dakota 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 Alerus Financial, National Association, Grand Forks, North Dakota, to assume all of the deposits of BankFirst.

The two offices of BankFirst will reopen on Monday. Alerus Financial, N.A. entered into a separate agreement to operate BankFirst's Sioux Falls location as a branch of First Dakota National Bank, Yankton, South Dakota. Alerus Financial, N.A. will operate the failed bank's Minneapolis location as a branch of Alerus Financial, N.A.

First Piedmont Bank, Winder, Georgia

First Piedmont Bank, Winder, 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 First American Bank and Trust Company, Athens, Georgia, to assume all of the deposits of First Piedmont Bank.

First Piedmont Bank's two offices will reopen on Monday as branches of First American Bank and Trust Company. Depositors of First Piedmont Bank will automatically become depositors of First American Bank and Trust Company. 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 American Bank and Trust Company can fully integrate the deposit records of First Piedmont Bank.