Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any Phishing Scams to obtain information from you.
On Friday, January 29, 2010, First Regional Bank, Los Angeles, CA was closed
by the California Department of Financial Institutions, 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.
The FDIC has issued a press release
(PR-026-2010) about
the institution's closure. If you represent a media outlet and would
like information about the closure, please contact
David Barr at 1-202-898-6992.
All deposit accounts, excluding certain brokered deposits, have
been transferred to
First-Citizens Bank & Trust Company, Raleigh, NC ("assuming
institution")
and will be available immediately. On Monday,
February 1, 2010,
the former First Regional Bank locations will
reopen as branches of
First-Citizens Bank & Trust Company.
Your transferred deposits will be separately insured from any accounts
you may already have at First-Citizens Bank & Trust Company for six
months after the failure of First Regional Bank. Checks
that were drawn on First Regional Bank that did not
clear before the institution closed will be honored as long as there are
sufficient funds in the account. If you have questions about your account(s) transferred to the assuming bank,
you may speak to an FDIC representative by calling 1-800-591-2817.
For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the 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-Citizens Bank & Trust Company as long as
the deposits are not pledged as collateral for loans. You may view more
information about First-Citizens Bank & Trust Company by visiting their web site.
The Automated Teller Machines (ATM)
and online service will remain available.
As of Monday, February 1, 2010 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 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.
All interest accrued through Friday, January 29, 2010 will be paid at
your same rate. First-Citizens Bank & Trust Company will be
reviewing rates. You will be notified of any changes.
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.
The Trust Administration Services
(TAS) was a division of First Regional Bank and was not purchased by
First-Citizens Bank & Trust Company. TAS has been retained as an
asset of the Receivership. TAS customers may continue to make transactions
on their accounts; however, the Receiver will not be processing new accounts
at this time. For additional information on the TAS accounts, please
see the question and answer guide.
If you had a loan with First Regional 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. 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, please contact
your loan officer.
For all questions regarding new loans and the lending policies of First-Citizens Bank & Trust Company, please contact your branch office.
Claims against failed financial institutions occur when bills sent to the
institution remain unpaid at the time of failure. If you or your company provided
a service or product, leased space, furniture,
or equipment to First Regional Bank after
Friday, January 29, 2010 and have
not been paid, you do not have
a claim against First Regional Bank. Please follow
your normal billing procedures by providing an invoice as instructed.
If you or your company provided a service
or product, leased space, furniture, or equipment to First Regional Bank prior
to Friday, January, 29, 2010 and have
not
been
paid, you may be
entitled to a claim against the bank. If you provided a product to or a service
for First Regional Bank prior to the bank's failure
for
which you have not
been
paid
and you have not received communication, please
contact:
Federal Deposit Insurance Corporation
Receiver: First Regional Bank 1601 N. Bryan Street Dallas, TX 75201-3430 Attention: Claims Agent
Please note: There are time limits for filing a claim, your claim must be filed on or before 5/5/2010.
All shares of First Regional Bank were owned by its holding company, First
Regional Bancorp, Los Angeles, CA. The holding company was not included
in the closing of the bank or the resulting receivership. If you are a
shareholder of First Regional Bancorp, please do not contact or file a
claim with the Receiver. You may contact First Regional Bancorp directly
for information as follows:
First Regional Bancorp
Steven J. Sweeney, General Counsel
1801 Century Park East, Suite 800
Los Angeles, CA 90067
1-310-552-1776
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.
