![]() 2016 FDIC Insured Failed Banks |
April 29, 2016: Trust Company Bank, Memphis, TN was closed by the
Tennessee Department of Financial Institutions.
The Federal Deposit Insurance Corporation (FDIC) was named Receiver. Successor Bank: To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Bank of Fayette County, Piperton, Tennessee, to assume all of the deposits of Trust Company Bank.
The Bank of Fayette County History:
Established in 1902 as
The Bank of Mason ►
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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Trust Company Bank 766 S White Station Memphis, TN 38117 |
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Established as The Bank of Mason |
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Cost to FDIC: $7 million |
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