2009 Bank Closure - FDIC closes Bank of Wyoming

	July 10, 2009: Bank of Wyoming, Thermopolis, WY was closed by the State of Wyoming, Department of Audit, Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. As of June 30, 2009, Bank of Wyoming had total assets of $70 million and total deposits of approximately $67 million. The FDIC entered into a purchase and assumption agreement with Central Bank & Trust, Lander, Wyoming, to assume all of the deposits of Bank of Wyoming, except about $8 million in brokered deposits. The FDIC will pay the brokers directly for the amount of their funds. Customers who placed money with brokers should contact them directly for more information about the status of their deposits. All deposit accounts excluding brokered deposits have been transferred to Central Bank & Trust, and are available immediately. On Monday, July 13, 2009, the former Bank of Wyoming location reopened as a branch of Central Bank & Trust. Transferred deposits will be separately insured from any accounts you may already have at Central Bank & Trust for six months after the failure of Bank of Wyoming. All interest accrued through Friday, July 10, 2009, will be paid at your same rate; however Central Bank & Trust will be reviewing rates. Central Bank and Trust 285 Main Street Lander, WY 82520 (307) 332-4730 http://www.centralbanktrust.com In addition to assuming all of the deposits of the failed bank, Central Bank and Trust agreed to purchase approximately $55 million of assets. The FDIC will retain any remaining assets for later disposition. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27 million. For additional information and assistance contact the FDIC at: 1-866-806-6128; or go to: http://www.fdic.gov/bank/individual/failed/wyoming.html
2009 FDIC Insured Failed Banks




Bank of Wyoming 435 Arapahoe Street Thermopolis, WY 82443 http://www.myfriendlybank.com
Established on 11/24/1978 as First State Bank Of Thermopolis
Assets: $70 million
Deposits: $67 million


Cost to FDIC: $27 million

Creditor Claims: Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. Shortly after the failure, the FDIC sends notices directly to all known service providers to explain the claim filing process. If you provided a service for Bank of Wyoming and have not received a notice, please contact:

Federal Deposit Insurance Corporation
Receiver: Bank of Wyoming
40 Pacifica, Suite 1000
Irvine, CA 92618
Attention: Claim Agent
1-800-568-9161

Consumer Alert

Unclaimed FDIC Insured Deposits

Note: There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes ...

If an insured depositor fails to make a claim an insured or transferred deposit within 18 months after the FDIC initiates the payment of insured deposits, the transferee institution must refund the deposit to the FDIC, and all rights of the depositor against the transferee institution are barred.

The FDIC then remits the insured deposit to the custody of the unclaimed property administrator in the account owner's home state, unless that state declines to accept custody. Upon delivery, the FDIC is deemed to have made payment to the depositor, and all rights of the depositor against the FDIC are barred.

Most states allow claims in perpetuity, but there's a reversion clause. If a depositor does not claim the deposit delivered to the custody of the State within 10 years of the date of delivery, the deposit must then immediately be refunded to FDIC, and all rights of the depositor against the state are barred.

It's important to note that If a state declines to accept custody of the deposit - which they sometimes do - the depositor must claim the funds from the FDIC before the receivership is terminated, or all rights of the depositor with respect to the deposit are barred. Dividends for credits arising from uninsured portions of a deposit may, however, be claimed after the receivership is terminated if a dividend check was returned by the post office for a bad address.

Be aware that due to the number of mergers and acquisitions in the banking industry over the years, it is possible you or a deceased family member might well have an account at a failed bank and not know it. Additionally, unclaimed safe deposit boxes at closed branches may be drilled and the contents sold at auction just weeks after closing, so prompt action is advised. For assistance go to: Unclaimed Account Search

History: Established on 11/24/1978 as First State Bank Of Thermopolis
12/18/1987 - Acquired First State Bank At Shoshoni (Wyoming)
01/03/2006 - Changed name to Bank Of Wyoming