FDIC Bank Closing List - Find and claim your insured bank account, retirement account (IRA), CD or Safe Deposit Box at banking institutions closed by government regulators

	The Federal Deposit Insurance Corporation (FDIC), created by the Banking Act of 1933, administers insurance funds to protect depositors from losing money when banks fail. Participating banks pay premiums to the FDIC Deposit Insurance Fund (DIF). If a bank fails, the FDIC pays depositors directly, or transfers insured funds to a successor bank. There has been at least one bank failure every year since operations began, with more than 1,400 banks and 700 savings institutions closing between 1982 and 1992 alone. There were 25 bank failures in 2008, including the largest ever, Washington Mutual, with $182 billion in deposits. Since the start of the current financial crisis in 2008 over three hundred banks have failed, depleting the Deposit Insurance Fund of more than $75 billion. When a bank or savings and loan is ordered closed by government regulators, the FDIC is appointed Receiver - the rough equivalent of a bankruptcy trustee - with responsibility for the payout of insured deposits up to $250,000 * per qualified account; and liquidation of the institution's assets, which are distributed to creditors. After a bank is closed, the FDIC provides written notice within 30 days to insured depositors advising they must claim their deposit from the FDIC, or if the deposit has been transferred to another institution, from that institution. A second notice is mailed 15 months after the first. ► Be advised, however, that not every depositor with funds in a failed bank will receive notification from the FDIC. Beneficial owners of fiduciary accounts, including Uniform Transfers To Minors (UTMA) accounts, escrow accounts, Interest on Lawyer Trust Accounts (IOLTA), and deposit accounts obtained through a broker (Brokered Accounts) will not be contacted by the FDIC. This is because these accounts are on the failed bank's records in the name of the fiduciary, not the individual owner. The FDIC does not have access to ownership information, and therefore will not contact individual depositors. It is the responsibility of the broker or other fiduciary to initiate a claim. ► There are negative consequences for those who fail to promptly claim insured funds. Accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage, after a period of time, generally six months. If an individual already has accounts at a successor institution, perhaps unknowingly in the case of brokered deposits, the insurance limit may be exceeded and funds could be lost in a subsequent receivership. In a worst case scenario, claims on accounts which are inactive for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. 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 are the beneficial owner of a brokered or trust account. ◄ For specific claims information and a list of other banking institutions that a failed bank has acquired over the years, select a bank closure from the list, or go to: Bank Search ► Different rules apply to failed Credit Unions The National Credit Union Administration (NCUA) supervises and insures over 7,329 federal credit unions and 4,538 state-chartered credit unions. When a federally-insured credit union is liquidated, NCUA's Asset Liquidation Management Center - not the FDIC - assumes responsibility for paying share accounts to members. NCUSIF, The National Credit Union Share Insurance Fund, currently insures member deposits up to a $250,000 * limit. Since 1990, more than $331 million has been paid out to well over 100,000 shareholders. There are time limits on claims. Accounts claimed within an 18-month insurance period are paid the full insured amount. After the 18-month insurance period, unclaimed shares are considered uninsured and are written down to subsidize any losses incurred. The following credit unions failed in 2010: Kern Central Credit Union California Friendship Community Federal Credit Union Mississippi Mutual Diversified Employees Federal Credit Union California Lawrence County School Employees Federal Credit Union PA South End Mutual Benefit Association, Inc. Connecticut Tracy Federal Credit Union California St. Paul's Croatian Federal Credit Union Ohio Convent Federal Credit Union New York Orange County Employees Credit Union Texas Southwest Community Federal Credit Union Utah Norbel Credit Union Utah Certified Federal Credit Union California Kappa Alpha Psi Texas First American Credit Union Wisconsin Industries Puerto Rico Federal Credit Union Puerto Rico Phil-Pet Federal Credit Union Texas The Union Credit Union Washington Constitution Corporate Federal Credit Union Connecticut Beehive Credit Union Utah For additional information on dormant and unclaimed credit union accounts go to Credit Union Search * The Emergency Economic Stabilization Act of 2008 temporarily increased FDIC and NCUA deposit insurance to $250,000 from October 3, 2008, through December 31, 2009; but the change has now been made permanent and retroactive by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The $250,000 deposit insurance limit now applies to banks that failed between January 1 and October 3, 2008. Former depositors at the following failed banks, therefore, may be entitled to receive additional compensation: Washington Mutual Bank (WaMu) Hume Bank, Hume, MO ANB Financial, N.A., Bentonville, AR IndyMac Bank, F.S.B., Pasadena, CA First Priority Bank, Bradenton, FL The Columbian Bank and Trust Company, Topeka, KS Silver State Bank, Henderson, NV
4th Qtr 2010 Bank Failures
Community National Bank
First Southern Bank
United Americas Bank, N.A.
Appalachian Community Bank
Chestatee State Bank
The Bank of Miami N.A.
Earthstar Bank
Paramount Bank
First Banking Center
Allegiance Bank of North America
Gulf State Community Bank
Copper Star Bank
Darby Bank & Trust Co.
Tifton Banking Company
First Vietnamese American
Pierce Commercial Bank
Western Commercial Bank
K Bank
First Arizona Savings, A FSB
Hillcrest Bank
First Suburban National Bank
First National Bank of Barnesville
The Gordon Bank
Progress Bank of Florida
First Bank of Jacksonville
Premier Bank
WestBridge Bank and Trust
Security Savings Bank, F.S.B.
Shoreline Bank
Wakulla Bank

1st Qtr 2010 Bank Failures
2nd Qtr 2010 Bank Failures
3rd Qtr 2010 Bank Failures
4th Qtr 2010 Bank Failures
1st & 2nd Qtr 2009 Bank Failures
3rd Qtr 2009 Bank Failures
4th Qtr 2009 Bank Failures
2008 Bank Failures

Consumer Alert

Unclaimed FDIC Insured Deposits

Time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes

Be advised that not every depositor with funds 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.

Beneficial owners of fiduciary accounts, including Uniform Transfers To Minors accounts, escrow accounts, Interest on Lawyer Trust Accounts (IOLTA), and deposit accounts obtained through a broker (Brokered Accounts) will not be contacted by the FDIC.

This is because these accounts are on the failed bank's records in the name of the fiduciary, not the individual owner. The FDIC does not have access to ownership information, and therefore will not contact individual depositors. It is the responsibility of the broker or other fiduciary to initiate a claim.

In addition, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage, after a period of time. If an individual already has accounts at a successor institution, perhaps unknowingly in the case of brokered deposits, the insurance limit may be exceeded and funds could be lost in a subsequent receivership.

Finally, in the worst case scenario, 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.

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 or safe deposit box go to: Bank Account Search

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