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Failed Bank Information
Bank
Closing Information for First Integrity Bank NA, Staples, MN
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- Introduction
- Press Release
- Acquiring Financial Institution
- Question and Answer Sheet
- Banking Services
- Loan Customers
- Possible Claims Against the Failed Institution
- Priority of Claims
- Dividend Information
- Brokered Deposits
- Balance Sheet Summary
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I. Introduction |
On May 30, 2008,
First Integrity Bank NA, Staples, MN
was closed by the
Office of the Comptroller of the Currency (OCC) and the Federal Deposit
Insurance Corporation (FDIC) was named Receiver. No advance notice
is given to the public when a financial institution is closed.
The FDIC has assembled useful information
regarding your relationship with this institution. Besides a checking account, you
may have Certificates of Deposit, a car loan, a business checking account, a commercial
loan, a Social Security direct deposit, and other relationships with the institution. The
FDIC has compiled the following information which should help answer many of your
questions.
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II. Press
Release |
The FDIC has issued a press release (PR-41-2008) about
the institution’s closure. If you represent a media outlet
and would like information about the closure, please contact
David Barr at
703-622-4790.
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III. Acquiring
Financial Institution |
All deposit accounts have been
transferred to First International Bank and Trust, Watford City, ND ("assuming
institution"), and now with newly acquired branches in Staples and Motley,
MN. All deposit accounts will be available as usual. The bank's drive up
lanes will open on Saturday May 31, during the normal hours of 8:30 - 11:30 am, as
will
the lobbies at Staples and Motley locations.
Your transferred deposits will be separately
insured from any accounts you may already have at First International Bank
and Trust for six months after the failure of First Integrity
Bank, NA. Checks that
were drawn on First Integrity Bank, NA that did not clear before the institution
closed
will be honored as long as there are sufficient funds in the account. You
may speak to an FDIC representative regarding deposit insurance by calling:
1-800-331-6306 or visit EDIE the FDIC's Electronic Deposit Insurance
Estimator.
The Claim Agent may direct you to download and submit a particular
form that will assist in expediting the processing of your claim.
List of Affidavits, Declarations, and Forms
available for download
EDIE
- FDIC's Electronic Deposit Insurance Estimator
You may withdraw your funds from any transferred
account without an early withdrawal penalty until you enter into a new deposit
agreement with First International Bank and Trust as long as
the deposits are not pledged as collateral for loans. You may view more
information about
First International Bank and Trust by
visiting their web site.
First International Bank and Trust
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V. Banking
Services |
You may continue to use the services to
which you previously had access, such as automatic teller machines (ATMs), safe deposit
boxes, night deposit boxes, wire services, etc.
Your checks will be processed as usual. All
outstanding checks will be paid against your available balance(s)
as if no change had occurred. First International Bank and Trust
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, please contact First International Bank and Trust,
Customer Service Department, at the Staples branch at 218-894-1522 or the Motley branch at 218-352-6284. An account
representative will clear up any confusion about the validity of your checks.
After May 30, 2008, your account will earn
interest at a rate determined by First International Bank and Trust.
You will be notified by letter regarding this matter.
Your automatic direct deposit(s) and/or
automatic withdrawal(s) should be transferred automatically to your assuming institution.
You should contact your assuming institution, however, to discuss your account(s) and to
insure that service is not delayed or discontinued.
All your deposit account histories and records
will be transferred to your assuming institution. If your assuming institution
requires any additional signatures or forms, it will notify you. If you
have any questions or
special requests, you may contact a representative of First International
Bank and Trust at the Staples branch at 212-894-1522 or the Motley branch at
218-352-6284. |
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VI. Loan
Customers |
If you had a loan with First Integrity Bank, NA, you should
continue to make your payments as usual. The terms of your loan will not
change under the terms of the loan contract because they are contractually
agreed
to in your promissory note with the failed institution. Checks should
be made to your former bank and sent to the same address until further notice. |
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VII. Possible Claims Against the Failed
Institution |
Claims against failed financial institutions
occur when bills sent to the institution remain unpaid at the time of failure. Shortly
after the failure, the FDIC sends notices directly to all known service providers to
explain the claim filing process.
Please note: there are time limits for
filing a claim, as specified in the notice.
If you provided a service for First Integrity Bank, NA and have not
received a notice, please contact:
Federal Deposit Insurance Corporation
Receiver: First Integrity Bank,
NA
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas 75201
Or:
Call toll free 1-800-568-9161 |
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VIII. Priority of Claims |
In accordance with Federal law, allowed claims
will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
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IX. Dividend
Information |
No dividends have been paid at this time.
Dividend Information on Failed Financial Institutions |
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X. Brokered Deposits |
The FDIC offers a reference
guide to deposit brokers acting as agents for their investor clientele.
This site outlines the FDIC's policies and procedures that must
be followed by deposit brokers when filing for pass-through insurance
coverage on custodial accounts deposited in a failed FDIC Insured
Institution.
Deposit
Broker Processing Guide |
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General Disclaimer |
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