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Failed Bank Information
Bank
Closing Information for First National Bank of Nevada, Reno, NV |
- Introduction
- Press Release
- Acquiring Financial Institution
- Question and Answer Sheet
En Español
- Banking Services
- Loan Customers
- Possible Claims Against the Failed Institution
- Priority of Claims
- Dividend Information
- Brokered Deposits
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On July 25, 2008, First National Bank of Nevada, Reno, NV, was closed by the
Office of the Comptroller of the Currency (OCC). Subsequently, the Federal Deposit
Insurance Corporation (FDIC) was named Receiver. No advance notice
is given to the public when a financial institution is closed.
As of June 30, 2008, the former First National Bank of Arizona,
Scottsdale, AZ, merged with First National Bank of Nevada and is
included in this action.
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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The FDIC has issued a press
release (PR-63-2008) about
the institution’s closure. If you represent a media outlet and would
like information about the closure, in Arizona please contact
David Barr at 703-622-4790 or
in Washington, DC please contact
Andrew Gray at 202-898-7192
or 202-494-1049.
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All deposit accounts have been transferred to
Mutual of Omaha Bank, Omaha, Nebraska ("assuming institution").
All deposit accounts will be available as usual.
Your transferred deposits will be separately insured from any accounts you may already
have at Mutual of Omaha Bank for six months after the
failure of First National Bank of Nevada. Checks that were drawn on First National Bank
of Nevada 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: 1-866-674-8944 or
visiting 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 Mutual of Omaha Bank as long as the deposits are not
pledged as collateral for loans. You may view more information about Mutual of Omaha Bank
by visiting their web site.
www.mutualofomahabank.com
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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. Mutual of Omaha 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
Mutual of Omaha Bank at 888-419-5574. An account
representative will clear up any confusion about the validity of your checks.
After July 25, 2008, your account will earn interest at a rate determined by
Mutual of Omaha Bank. 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 Mutual of Omaha Bank at
888-419-5574.
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If you had a loan with First National Bank of Nevada, 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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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 National Bank of Nevada and have not received a
notice, please contact:
Federal Deposit Insurance Corporation
Receiver: First National Bank of Nevada
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas 75201
Or:
Call toll free 1-800-568-9161
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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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No dividends have been paid at this time.
Dividend Information on Failed Financial Institutions
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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.
All deposit passed to Mutual of Omaha Bank.
Deposit Broker Processing Guide
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General Disclaimer |
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