2017 FDIC Insured Failed Banks |
May 5, 2017: Guaranty Bank, Milwaukee, WI, d/b/a BestBank in Georgia &
Michigan - was closed by the Office of the Comptroller of the Currency. The
Federal Deposit Insurance Corporation (FDIC) was named Receiver. Successor Bank: All deposit accounts, including brokered deposits, have been transferred to First-Citizens Bank & Trust Company, Raleigh, NC. All depositors of Guaranty Bank and BestBank automatically became depositors of First-Citizens Bank & Trust Company.
First-Citizens Bank & Trust Company History:
1923:
Established as
Guaranty Savings and Loan Association
► Depositors must establish
contact or the successor bank or the FDIC to reclaim their deposits.
► Not every depositor in a failed bank will receive notification from the
FDIC, and there are time limits on claims of FDIC-insured bank accounts,
CDs and safe deposit boxes. By law, accounts which go unclaimed for an
extended period may be time barred, and safe deposit boxes can be drilled
and the contents sold at auction. ► Additionally, accounts transferred to
successor institutions may have lower interest rates and can lose
insurance coverage. ► It is important to understand
you may have an account at a failed institution and not know it,
either because you were a depositor at a bank acquired by an institution
that subsequently failed, or if you or a deceased family member are the
beneficial owner of a brokered fiduciary account. ► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Account Search |
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BestBank Guaranty Bank 501 West Northshore Drive Milwaukee, WI 53217 |
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Established as Guaranty Savings and Loan Association |
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Cost to FDIC: $146 million |
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