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If The Bank Fails

The bank customer will usually find out their bank failed when they get a letter stating that another bank has taken over the accounts. FDIC does not give advance notice to the public when a financial institution is closed. If all of the accounts are fully FDIC insured the bank customer loses nothing and access to all money is usually immediate. If you have uninsured deposits, life is more difficult.

When a bank fails and FDIC is appointed as receiver, FDIC will sell the institution’s assets to pay depositors and creditors. If any excess cash is generated – after the administrative expenses of the FDIC receiver are taken care of – then the receiver may declare and distribute a dividend to claimants. First in line to claim any money are the remaining uninsured deposits, followed by institution liabilities, subordinated obligations, and then obligations to shareholders.

When Do Uninsured Depositors Get Paid?
Uninsured depositors may get a special Advance Dividend usually within 30 days after the bank closes. Every quarter FDIC, as the receiver, will determine the net proceeds available from converting failed bank assets and, if money’s available, pay out a Traditional Dividend until all the money’s gone.

The following chart lists banks that have failed since 2001, the date they closed and the total dividends paid by the updated date listed. All information was obtained from the FDIC web site www.fdic.gov.

Dead Banks (Last web site update 5 February 2010)

*FDIC news releases frequently say "all deposits" are assumed by the new bank, this would seem to include uninsured deposits as well. And yet in some instances, Sanderson State Bank of Texas, Franklin Bank, Horizon Bank, Mirae Bank, Waterford Village, First Piedmont Bank, Vineyard Bank, Temecula Valley Bank, Millennium Bank, First National Bank of Danville, First State Bank of Winchester, John Warner Bank, Rock River Bank, Founders Bank, Elizabeth State Bank, Horizon Bank, American Southern Bank, America West Bank, Westsound Bank, First State Bank of Winchester, assorted Security Banks and FirstCity Bank to name a few, altho FDIC said "all deposits" were covered, the uninsured depositors have only received a fraction of their uninsured deposits after months of waiting. I have raised this point with two different officials of FDIC who maintained "all deposits were covered" until I bring up these exceptions and then their answer becomes "no comment". Based on this I would suggest that access to uninsured deposits in a failed bank should never be assumed.

Bank Name Closing Date Updated Date Total Uninsured Depositor Dividends Paid*

1^st American State Bank, Hancock, MN February 5, 2010 February 5, 2010 100% - All Covered*

American Marine Bank, Bainbridge Island, WA January 29, 2010 January 29, 2010 100% - All Covered*

First Regional Bank, Los Angeles, CA January 29, 2010 January 29, 2010 100% - All Covered*

Community Bank and Trust, Cornelia, GA January 29, 2010 January 29, 2010 100% - All Covered*

Florida Community Bank, Immokalee, FL January 29, 2010 January 29, 2010 100% - All Covered*

Marshall Bank, Hallock, MN January 29, 2010 January 29, 2010 100% - All Covered*

First National Bank of Georgia, Carrollton, GA January 29, 2010 January 29, 2010 100% - All Covered*

Columbia River Bank, The Dalles, OR January 22, 2010 January 22, 2010 100% - All Covered*

Evergreen Bank Seattle, WA January 22, 2010 January 22, 2010 100% - All Covered*

Charter Bank, Santa Fe, NM January 22, 2010 January 22, 2010 100% - All Covered*

Bank of Leeton, Leeton, MO January 22, 2010 January 22, 2010 100% - All Covered*

Premier American Bank, Miami, FL January 22, 2010 January 22, 2010 100% - All Covered*

Barnes Banking Company, Kaysville, UT January 15, 2010 January 15, 2010 0%

St. Stephen State Bank, St. Stephen, MN January 15, 2010 January 15, 2010 100% - All Covered*

Town Community Bank and Trust, Antioch, IL January 15, 2010 January 15, 2010 100% - All Covered*

Horizon Bank, Bellingham, WA January 8, 2010 January 8, 2010 100% - All Covered*

First Federal Bank, F.S.B, Santa Monica, CA December 18,2009 December 18,2009 100% - All Covered*

Imperial Capital Bank, La Jolla, CA December 18,2009 December 18,2009 100% - All Covered*

New South Federal Savings Bank, Irondale, AL December 18,2009 December 18,2009 100% - All Covered*

Independent Bankers' Bank, Springfield, IL December 18,2009 December 18,2009 0%

Peoples First Community Bank, Panama City, FL December 18,2009 December 18,2009 0%

Citizens State Bank, New Baltimore, MI December 18,2009 December 18,2009 0%

RockBridge Commercial Bank, Atlanta, GA December 18,2009 December 18,2009 0%

Valley Capital Bank, N.A., Mesa, AZ December 11, 2009 December 11, 2009 100% - All Covered*

SolutionsBank, Overland Park, KS December 11, 2009 December 11, 2009 100% - All Covered*

Republic Federal Bank, N.A., Miami, FL December 11, 2009 December 11, 2009 100% - All Covered*

Greater Atlantic Bank, Reston, VA December 4, 2009 December 4, 2009 100% - All Covered*

Benchmark Bank, Aurora, IL December 4, 2009 December 4, 2009 100% - All Covered*

AmTrust Bank, Cleveland, OH December 4, 2009 December 4, 2009 100% - All Covered*

Tattnall Bank, Reidsville, GA December 4, 2009 December 4, 2009 100% - All Covered*

First Security National Bank, Norcross, GA December 4, 2009 December 4, 2009 100% - All Covered*

Buckhead Community Bank, Atlanta, GA December 4, 2009 December 4, 2009 100% - All Covered*

Commerce Bank of Southwest Florida, Ft Myers, FL November 20, 2009 November 20, 2009 100% - All Covered*

Pacific Coast National Bank, San Clemente, CA November 13, 2009 November 13, 2009 100% - All Covered*

Century Bank, Federal Savings Bank, Sarasota, FL November 13, 2009 November 13, 2009 100% - All Covered*

Orion Bank, Naples, FL November 13, 2009 November 13, 2009 100% - All Covered*

United Commercial Bank, San Francisco, CA November 5, 2009 November 5, 2009 100% - All Covered*

Gateway Bank of St. Louis, St. Louis, MO November 5, 2009 November 5, 2009 100% - All Covered*

Prosperan Bank, Oakdale, MN November 5, 2009 November 5, 2009 100% - All Covered*

Home Federal Savings Bank, Detroit, MI November 5, 2009 November 5, 2009 100% - All Covered*

United Security Bank, Sparta, GA November 5, 2009 November 5, 2009 100% - All Covered*

Bank USA, National Association, Phoenix, AZ October 30, 2009 October 30, 2009 100% - All Covered*

California National Bank, Los Angeles, CA October 30, 2009 October 30, 2009 100% - All Covered*

San Diego National Bank, San Diego, CA October 30, 2009 October 30, 2009 100% - All Covered*

Pacific National Bank, San Francisco, CA October 30, 2009 October 30, 2009 100% - All Covered*

Park National Bank, Chicago, IL October 30, 2009 October 30, 2009 100% - All Covered*

Community Bank of Lemont, Lemont, IL October 30, 2009 October 30, 2009 100% - All Covered*

North Houston Bank, Houston, TX October 30, 2009 October 30, 2009 100% - All Covered*

Madisonville State Bank, Madisonville, TX October 30, 2009 October 30, 2009 100% - All Covered*

Citizens National Bank, Teague, TX October 30, 2009 October 30, 2009 100% - All Covered*

First Dupage Bank, Westmont, IL October 23, 2009 October 23, 2009 100% - All Covered*

Riverview Community Bank, Otsego, MN October 23, 2009 October 23, 2009 100% - All Covered*

Bank of Elmwood, Racine, WI October 23, 2009 October 23, 2009 100% - All Covered*

Flagship National Bank, Bradenton, FL October 23, 2009 October 23, 2009 100% - All Covered*

Hillcrest Bank Florida, Naples, FL October 23, 2009 October 23, 2009 100% - All Covered*

American United Bank, Lawrenceville, GA October 23, 2009 October 23, 2009 100% - All Covered*

Partners Bank, Naples, FL October 23, 2009 October 23, 2009 100% - All Covered*

San Joaquin Bank, Bakersfield, CA October 16, 2009 October 16, 2009 100% - All Covered*

Southern Colorado National Bank, Pueblo, CO October 2, 2009 October 2, 2009 100% - All Covered*

Jennings State Bank, Spring Grove, MN October 2, 2009 October 2, 2009 100% - All Covered*

Warren Bank, Warren, MI October 2, 2009 October 2, 2009 100% - All Covered*

Georgian Bank, Atlanta, GA September 25,2009 September 25,2009 100% - All Covered*

Irwin Union Bank & Trust Company, Columbus, IN September 18, 2009 September 18, 2009 100% - All Covered*

Irwin Union Bank, F.S.B., Louisville, KY September 18, 2009 September 18, 2009 100% - All Covered*

Venture Bank, Lacy, WA September 11, 2009 September 11, 2009 100% - All Covered*

Corus Bank, National Association, Chicago, IL September 11, 2009 September 11, 2009 100% - All Covered*

Brickwell Community Bank, Woodbury, MN September 11, 2009 September 11, 2009 100% - All Covered*

First State Bank, Flagstaff, AZ September 4, 2009 September 4, 2009 100% - All Covered*

Platinum Community Bank, Rolling Meadows, IL September 4, 2009 September 4, 2009 0%

Vantus Bank, Sioux City, IA September 4, 2009 September 4, 2009 100% - All Covered*

InBank, Oak Forest, IL September 4, 2009 September 4, 2009 100% - All Covered*

First Bank of Kansas City, Kansas City, MO September 4, 2009 September 4, 2009 100% - All Covered*

Affinity Bank, Ventura, CA August 28, 2009 August 28, 2009 100% - All Covered*

Mainstreet Bank, Forest Lake, MN August 28, 2009 August 28, 2009 100% - All Covered*

Bradford Bank, Baltimore, MD August 28, 2009 August 28, 2009 100% - All Covered*

Guaranty Bank, Austin, TX August 21, 2009 August 21, 2009 100% - All Covered*

First Coweta, Newnan, GA August 21, 2009 September 8, 2009 60.14%

CapitalSouth Bank, Birmingham, AL August 21, 2009 September 8, 2009 44.7%

ebank, Atlanta, GA August 21, 2009 August 21, 2009 100% - All Covered*

Community Bank of Nevada, Las Vegas, NV August 14, 2009 August 14, 2009 0%

Union Bank, National Association, Gilbert, AZ August 14, 2009 August 14, 2009 100% - All Covered*

Community Bank of Arizona, Phoenix, AZ August 14, 2009 August 14, 2009 100% - All Covered*

Colonial Bank, Montgomery, AL August 14, 2009 August 14, 2009 100% - All Covered*

Dwelling House Savings and Loan, Pittsburgh, PA August 14, 2009 August 14, 2009 100% - All Covered*

Community First Bank, Prineville, OR August 7, 2009 September 8, 2009 56.12%

First State Bank, Sarasota, FL August 7, 2009 September 8, 2009 66.79%

Community National Bank, Sarasota/Venice, FL August 7, 2009 September 8, 2009 70%

Mutual Bank, Harvey, IL July 31, 2009 September 8, 2009 50%

Integrity Bank, Jupiter, FL July 31, 2009 July 31, 2009 100% - All Covered*

Peoples Community Bank, West Chester, OH July 31, 2009 September 8, 2009 75%

First BankAmericano, Elizabeth, NJ July 31, 2009 September 8, 2009 75%

First State Bank of Altus, Altus, OK July 31, 2009 September 8, 2009 70%

Waterford Village Bank, Clarence, NY July 24, 2009 September 8, 2009 75%

Security Bank of North Fulton, Alpharetta, GA July 24, 2009 September 8, 2009 75%

Security Bank of North Metro, Woodstock, GA July 24, 2009 September 8, 2009 58%

Security Bank of Gwinnett County, Suwanee, GA July 24, 2009 September 8, 2009 40%

Security Bank of Jones County, Gray, GA July 24, 2009 September 8, 2009 75%

Security Bank of Houston County, Perry, GA July 24, 2009 July 24, 2009

Security Bank of Bibb County, Macon, GA July 24, 2009 September 8, 2009 45%

Temecula Valley Bank, Temecula, CA July 17, 2009 August 6, 2009 45.62%

Vineyard Bank, NA, Rancho Cucamonga, CA July 17, 2009 August 6, 2009 55.12%

BankFirst, Sioux Falls, SD July 17, 2009 July 17, 2009 100% - All Covered*

First Piedmont Bank, Winder, GA July 17, 2009 August 6, 2009 70%

Bank of Wyoming, Thermopolis, WY July 10, 2009 July 10, 2009 100% - All Covered*

Founders Bank, Worth, IL July 2, 2009 August 5, 2009 68.29%

Elizabeth State Bank, Elizabeth, IL July 2, 2009 August 5, 2009 75%

Millennium State Bank of Texas, Dallas, TX July 2, 2009 August 6, 2009 55%

First National Bank of Danville, Danville, IL July 2, 2009 August 6, 2009 75%

Rock River Bank, Oregon, IL July 2, 2009 August 5, 2009 47.55%

First State Bank of Winchester, Winchester, IL July 2, 2009 August 4, 2009 75%

John Warner Bank, Clinton, IL July 2, 2009 August 5, 2009 75%

Mirae Bank, Los Angeles, CA June 26, 2009 August 5, 2009 75%

Horizon Bank, Pine City, MN June 26, 2009 August 5, 2009 56.78%

MetroPacific Bank, Irvine, CA June 26, 2009 June 26, 2009 100% - All Covered*

Neighborhood Community Bank, Newnan, GA June 26, 2009 June 26, 2009 100% - All Covered*

Community Bank of West Georgia, Villa Rica, GA June 26, 2009 June 26, 2009 0%

First National Bank of Anthony, Anthony, KS June 19, 2009 June 19, 2009 100% - All Covered*

Cooperative Bank, Wilmington, NC June 19, 2009 June 19, 2009 100% - All Covered*

Southern Community Bank, Fayetteville, GA June 19, 2009 June 19, 2009 100% - All Covered*

Bank of Lincolnwood, IL June 5, 2009 June 5, 2009

Citizens National Bank, Macomb, IL May 22, 2009 May 22, 2009

Strategic Capital Bank, Champaign, IL May 22,2009 May 22,2009

BankUnited, FSB, Coral Gables, FL May 21, 2009 May 21, 2009

Westsound Bank, Bremerton, WA May 8, 2009 September 8, 2009 7.87%

America West Bank, Layton, UT May 1, 2009 October 20, 2009 4.16%

Citizens Community Bank, Ridgewood, NJ May 1, 2009 May 1, 2009 100% - All Covered*

Silverton Bank, National Association, Atlanta, GA May 1, 2009 May 1, 2009 100% - All Covered*

First Bank of Idaho, Ketchum, ID April 24, 2009 April 24, 2009

First Bank of Beverly Hills, Calabasas, CA April 24, 2009 April 24, 2009 0%

American Southern Bank, Kennesaw, GA April 24, 2009 October 20, 2009 19.77%

Michigan Heritage Bank, Farmington Hills, MI April 24, 2009 April 24, 2009 100% - All Covered*

Great Basin Bank of Nevada, Elko, NV April 17, 2009 April 17, 2009 100% - All Covered*

American Sterling Bank, Sugar Creek, MO April 17, 2009 April 17, 2009 100% - All Covered*

New Frontier Bank, Greeley, CO April 10, 2009 April 10, 2009 0%

Cape Fear Bank, Wilmington, NC April 10, 2009 April 10, 2009

Omni National Bank, Atlanta, GA March 27, 2009 October 14, 2009 6.89%

Teambank, Paola, KS March 20, 2009 March 20, 2009

Colorado National Bank, Colorado Springs, CO March 20, 2009 March 20, 2009

FirstCity Bank, Stockbridge, GA March 20, 2009 August 11, 2009 15.60%

Freedom Bank of Georgia, Commerce, GA March 6, 2009 March 6, 2009

Security Savings Bank, Henderson, NV February 27, 2009 August 25, 2009 4.45%

Heritage Community Bank, Glenwood, IL February 27, 2009 February 27, 2009

Silver Falls Bank, Silverton, OR February 20, 2009 February 20, 2009

Pinnacle Bank, Beaverton, OR February 13, 2009 February 13, 2009

Corn Belt Bank and Trust Company, Pittsfield, IL February 13, 2009 August 18, 2009 29.89%

Riverside Bank of the Gulf Coast, Cape Coral, FL February 13, 2009 July 21, 2009 14.20%

Sherman County Bank, Loup City, NE February 13, 2009 February 13, 2009

County Bank, Merced, CA February 6, 2009 February 6, 2009

Alliance Bank, Culver City, CA February 6, 2009 February 6, 2009

FirstBank Financial Services, McDonough, GA February 6, 2009 February 6, 2009

MagnetBank, Salt Lake City, UT January 30, 2009 January 30, 2009 0%

Suburban Federal Savings Bank, Crofton, MD January 30, 2009 January 30, 2009

Ocala National Bank, Ocala, FL January 30, 2009 July 28, 2009 4.37%

1st Centennial Bank, Redlands, CA January 23, 2009 June 30, 2009 32.94%

National Bank of Commerce, Berkeley, IL January 16, 2009 August 18, 2009 64.78%

Bank of Clark County, Vancouver, WA January 16, 2009 October 6, 2009 23.08%

Sanderson State Bank, Sanderson, TX December 12, 2008 April 21, 2009 34.34%

Haven Trust Bank, Duluth, GA December 12, 2008 May 27, 2009 30.39%

First Georgia Community Bank, Jackson, GA December 5, 2008 October 20, 2009 22.13%

PFF Bank and Trust, Pomona, CA November 21, 2008 November 21, 2008

Downey Savings & Loan, Newport Beach, CA November 21, 2008 November 21, 2008

The Community Bank, Loganville, GA November 21, 2008 October 20, 2009 21.57%

Security Pacific Bank, Los Angeles, CA November 7, 2008 November 7, 2008 45.77%

Franklin Bank SSB, Houston, TX November 7, 2008 October 14, 2009 27.50%

Freedom Bank, Bradenton, FL October 31, 2008 August 11, 2009 35.99%

Alpha Bank & Trust, Alpharetta, GA October 24, 2008 August 11, 2009 17.43%

Meridian Bank, Eldred, II October 10, 2008 July 21, 2009 40.57%

Main Street Bank, Northville, MI October 10, 2008 July 21, 2009 29.49%

Washington Mutual, Henderson, NV & Park City, UT September 25, 2008 September 25, 2008 100% - All Covered*

Ameribank, Northfork, WV September 19, 2008 March 17, 2009 26.66%

Silver State Bank, Henderson, NV September 5, 2008 November 3, 2009 18.23%

Integrity Bank, Alpharetta, GA August 29, 2008 April 14, 2009 22.22%

Columbian Bank and Trust, Topeka, KS August 22, 2008 October 6, 2009 12.29%

First Priority Bank, Bradenton, FL August 1, 2008 August 1, 2008 50% - Advance

First Heritage Bank, NA, Newport Beach, CA July 25, 2008 August 4, 2009 62.82%

First National Bank, Reno, NV July 25, 2008 July 28, 2008 45.43%

IndyMac Bank, Pasadena, CA July 11, 2008 July 11, 2008 50% - Advance

First Integrity Bank, NA, Staples, MN May 30, 2008 November 18, 2008 74.42%

ANB Financial, NA, Bentonville, AR May 9, 2008 November 2, 2009 31.21%

Hume Bank, Hume, MO March 7, 2008 October 21, 2008 62.52%

Douglass National Bank, Kansas City, MO January 25, 2008 June 17, 2008 83.04%

Miami Valley Bank, Lakeview, OH October 4, 2007 July 1, 2008 35.78%

NETBANK, FSB Alpharetta, GA September 28, 2007 July 24, 2009 86.41%

Metropolitan Savings Bank February 2, 2007 October 23, 2007 42.20%

Bank of Ephraim, Ephraim, UT June 25, 2004 October 23, 2007
93% - Final

Reliance Bank, White Plains, NY March 19, 2004 March 19, 2005
96.19% - Final

Guaranty National Bank of Tallahassee, FL March 12, 2004 March 17, 2004
100%*

Dollar Savings Bank, Newark, NJ February 14, 2004 June 29, 2004
100% - Final

Pulaski Savings Bank, Philadelphia, PA November 14, 2003 July 22, 2005
92.97% - Final

The First National Bank of Blanchardville, WI May 9, 2003 November 12, 2008
51.93%

Southern Pacific Bank, Torrance, CA February 7, 2003 January 23, 2008
93.55%

The Farmers Bank of Cheneyville, LA December 17, 2002 October 20, 2004
59.24%

The Bank of Alamo, Alamo, TN November 8, 2002 March 18, 2005
78.44%

AmTrade International Bank of Georgia, Atlanta, GA September 30, 2002 July 7, 2004
81.71%

Universal Federal Savings Bank, Chicago, IL June 27, 2002 October 31, 2007
99.28%

Connecticut Bank of Commerce, Stamford, CT June 26, 2002 October 6, 2009
78.66%

New Century Bank, Shelby Township, MI March 28, 2002 February 11, 2003
74.46%

Net 1st National Bank, Boca Raton, FL March 1, 2002 February 1, 2007
100% - Final

NextBank, N.A., Phoenix, AZ February 7, 2002 March 2, 2004
66.19%

Oakwood Deposit Bank Company, Oakwood, OH February 1, 2002 November 20, 2007
42.43%

Bank of Sierra Blanca, Sierra Blanca, TX January 18, 2002 April 1, 2004
65.35% - Final

Hamilton Bank, N.A., Miami, FL January 11, 2002 November 6, 2007
88.44%

Sinclair National Bank, Gravette, AR September 7, 2001 April 1, 2004
82.17% - Final

Superior Bank, FSB, Hinsdale, IL July 27, 2001 April 29, 2008
69.55%

The Malta National Bank, Malta, OH May 3, 2001 April 1, 2004
91.21% - Final

First Alliance Bank & Trust Company, Manchester,NH February 2, 2001 February 18, 2003
94.99% - Final

The National State Bank Of Metropolis, IL December 14, 2000 March 17, 2005 95.11% - Final

Bank Of Honolulu, HI October 13, 2000 March `7, 2005 100% - Final

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