1. Introduction
2. Press Release
3. Acquiring Financial Institution
4. Question and Answer Guide
5. Banking Services
6. Loan Customers
7. Possible Claims
8. Qualified Financial Contracts
9. Purchase and Assumption Agreement (239Kb PDF File - PDF Help)
10. Downey Savings and Loan Association Contact Information 
11. Balance Sheet Summary

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.

Your transferred deposits will be separately insured from any accounts you may already have at U.S. Bank for six months after the sale of Downey Savings. Checks that were drawn on Downey Savings 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 this transaction by calling the FDIC Call Center.  EDIE the Estimator can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits.

You may continue to use the services to which you previously had access, such as, safe deposit boxes, night deposit boxes, wire services, etc, as normally available at each branch.

Your checks will be processed as usual.  All outstanding checks will be paid against your available balance(s) 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, please contact your branch office.  An account representative will clear up any confusion about the validity of your checks.

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

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank.  If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.

For all questions regarding new loans and the lending policies of U.S. Bank, please contact your branch office.

On November 21, 2008, Downey Savings and Loan Association, F.A. was closed by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, U.S. Bank acquired the assets and most of the liabilities of Downey Savings from the FDIC as Receiver for Downey Savings. Any claims by equity holders were not acquired.

There was no publicly owned stock in Downey Savings. If you are an equity shareholder, your shares are in Downey Financial Corporation, Newport Beach, CA, the holding company for Downey Savings, and not the institution. Downey Financial Corporation and the interests of equity, debt holders or other creditors of Downey Financial Corporation are not included in the closure or receivership of the institution. Please contact Downey Financial Corporation directly for information:

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