August 19, 2011: Lydian
Private Bank, Palm Beach, FL, including its division Virtual Bank, was
closed by the Office of the Comptroller of the Currency.
The Federal Deposit Insurance Corporation was named receiver.
Successor Bank: All deposit accounts, including brokered deposits and online deposits held at Virtual Bank, a division of Lydian Private Bank, have been transferred to Sabadell United Bank, National Association (N.A.), Miami, FL Sabadell United Bank,
National Association History:
Est. in 2000 as Virtualbank ►
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 IRA, CD and Lost Savings Account Search
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2011 FDIC Insured Failed Banks | |
Lydian Private
Bank 180 Royal Palm Way Palm Beach, FL 33480 |
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Established |
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Cost to FDIC: $ 293 million | |
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© 2014 NUPA - NATIONAL UNCLAIMED PROPERTY ASSOCIATES |