- 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
- Purchase and Assumption Agreement (2.3
mb PDF File - PDF Help)
- Integrity Bank Contact Information
-
Balance Sheet Summary
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| I. Introduction |
| On August 29, 2008, Integrity Bank, Alpharetta, GA was closed
by the Georgia Department of Banking and Finance 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
answer many of your questions. |
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| II. Press
Release |
| The FDIC has issued a press release
(PR-74-2008) about
the institution's closure. If you represent a media outlet and would
like information about the closure, please contact David
Barr at 202-898-6992. |
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| III. Acquiring
Financial Institution |
| All deposit accounts have been transferred to
Regions Bank, Birmingham, AL ("assuming institution") and will be available
as usual. Your
bank will re-open on Tuesday during regular business hours at the former
Integrity Bank main office and branch locations.
Your transferred deposits will be separately insured from any accounts
you may already have at Regions Bank for six months after the failure of
Integrity Bank. Checks that were drawn on Integrity Bank 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: 1-800-523-0640 or
visit EDIE the FDIC's Electronic Deposit Insurance Estimator.
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 Regions Bank as long as
the deposits are not pledged as collateral for loans. You may view more
information about
Regions Bank by
visiting their web site.
Regions Bank (www.regions.com)
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|
V. Banking Services |
| The Automated Teller Machines (ATM) and online services will remain available.
As of September 2, 2008 you may continue to use the services
to which you previously had access, such as,
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 insured balance(s) as if no change
had occurred. Regions 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, please
contact Regions Bank, Customer Service Department,
at 1-800-592-1958. An account representative will
clear up any confusion about the validity of your checks.
All interest accrued through Friday, will be paid at your same rate. Regions
Bank will
be reviewing rates and will provide further information soon. You
will be notified of any changes.
Your automatic direct deposit(s) and/or automatic withdrawal(s) will be
transferred automatically to Regions Bank. If you have any questions or
special requests, you may contact a representative of Regions Bank at
1-800-592-1958. |
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| VI. Loan
Customers |
| If you had a loan with Integrity 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 with the failed institution. Checks
should be made payable as usual and sent to the same address until further
notice. If you have further questions regarding an existing loan you may
call 1-800-523-0640.
For all questions regarding new loans and the lending policies of Regions
Bank, please contact
1-800-592-1958
or visit the Regions Bank website
at
www.regions.com. |
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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 Integrity Bank, and have
not received a notice, please contact:
Federal Deposit Insurance Corporation
Receiver: Integrity Bank
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
|
Dividend
Information on Failed Financial Institutions |
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|
XI. 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 |
