FDIC Insured Failed Banks: PFF Bank & Trust - Claim Your Savings Account, CD or Safe Deposit Box

	November 7, 2008: The banking operation of PFF Bank and Trust, Pomona, CA was sold in a transaction facilitated by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC). As of September 30, 2008, PFF Bank had total assets of $3.7 billion and total deposits of $2.4 billion. Subsequent to the closure, U.S. Bank acquired the assets and most of the liabilities, including covered bonds and other secured debt, of PFF Bank and Trust. Claims by equity, subordinated and senior unsecured debt holders were not acquired. All deposit accounts and all loans have been transferred to U.S. Bank, National Association, Minneapolis, MN. All thirty-eight former PFF Bank banks reopened for normal business hours as branches of U.S. Bank. Transferred deposits will be separately insured from any accounts you may already have at U.S. Bank for six months after the sale of PFF Bank. U.S. Bancorp U.S. Bancorp Center 800 Nicollet Mall Minneapolis, MN 55402 http://www.usbank.com The FDIC and U.S. Bank entered into a loss share transaction. U.S. Bank will assume the first $1.6 billion of losses on the asset pools of PFF and Downey (also acquired by U.S. Bank) covered under the loss share agreement, equal to the net asset position at close. The FDIC will then share in any further losses. Under the agreement, U.S. Bank will implement a loan modification program similar to the one the FDIC announced pursuant to the failure of IndyMac Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $700 million. For additional information and assistance contact the FDIC at: 800-930-6827 or go to: http://www.fdic.gov/bank/individual/failed/pff.html
2008 FDIC Insured Failed Banks




PFF Bank & Trust 399 North Garey Avenue Pomona, CA 91767 http://www.pffbank.com
Established on 1/1/1892 as Pomona First Federal Savings And Loan Association
Assets: $3.7 billion
Deposits: $2.4 billion


Cost to FDIC: $700 million

Insured deposits: All deposit accounts have been transferred to U.S. Bank, National Association, and are available immediately.

Services: Automated Teller Machines (ATM) remain available at the time of closing, and you may continue to use the services to which you previously had access, such as, safe deposit boxes, night deposit boxes, wire services, etc. Customers are asked to continue to use their existing branch until U.S. Bank can fully integrate the deposit records of PFF.

Checks: Checks will be processed as usual. All outstanding checks will be paid against your available balance as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, contact your branch office.

Interest: U.S. Bank will be honoring all existing CD rates.

Automatic Direct Deposits: Automatic direct deposits and/or automatic withdrawals will be transferred automatically to your new bank. Contact a representative of your assuming institution at your branch office.

Loans: If you had a loan with PFF Bank, you should continue to make your payments as usual. The terms of your loan will not change because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice.

Creditor Claims: There was no publicly owned stock in PFF Bank and Trust. If you are an equity shareholder, your shares are in PFF Bancorp, Inc., the holding company for PFF, and not the institution. PFF Bancorp, Inc. and the interests of equity, debt holders or other creditors of PFF Bancorp, Inc. are not included in the closure or receivership of the institution. They should contact:

PFF Bancorp, Inc.
Attn: Corporate Secretary
9337 Milliken Avenue
Rancho Cucamonga, CA 91730

All claims against PFF, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

FDIC as Receiver of PFF
Attention: Claims Agent
1601 Bryan Street
Dallas, TX 75201

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 1/1/1892 as Pomona First Federal Savings And Loan Association
1996 - Changed name to Pomona Federal Bank And Trust
1996 - Changed name to PFF Bank & Trust