Security Bank, National Association, North Lauderdale, Florida

Security Bank, National Association, North Lauderdale, Florida, becomes the 23rd FDIC casualty of the year 2012. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.8 million.

Security Bank, National Association, North Lauderdale, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Banesco USA, Coral Gables, Florida, to assume all of the deposits of Security Bank, National Association.

The three branches of Security Bank, National Association will reopen on Monday as branches of Banesco USA. Depositors of Security Bank, National Association will automatically become depositors of Banesco USA. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Security Bank, National Association should continue to use their existing branch until they receive notice from Banesco USA that it has completed systems changes to allow other Banesco USA branches to process their accounts as well.

This evening and over the weekend, depositors of Security Bank, National Association can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2012, Security Bank, National Association had approximately $101.0 million in total assets and $99.1 million in total deposits. In addition to assuming all of the deposits of the failed bank, Banesco USA agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-523-8209. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8 a.m. to 8 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for Security Bank.

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Palm Desert National Bank, Palm Desert, CA

Palm Desert National Bank, Palm Desert, CA, is the 22nd FDIC-insured institution to fail in the nation in 2012. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.1 million.

Palm Desert National Bank, Palm Desert, California, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Premier Bank, Costa Mesa, to assume all of the deposits of Palm Desert National Bank.

The sole branch of Palm Desert National Bank will reopen on Monday as a branch of Pacific Premier Bank. Depositors of Palm Desert National Bank will automatically become depositors of Pacific Premier Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Palm Desert National Bank should continue to use their existing branch until they receive notice from Pacific Premier Bank that it has completed systems changes to allow other Pacific Premier Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Palm Desert National Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, Palm Desert National Bank had approximately $125.8 million in total assets and $122.8 million in total deposits. In addition to assuming all of the deposits of the failed bank, Pacific Premier Bank agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-591-2820. The phone number will be operational this evening until 9:00 p.m., Pacific Daylight Time (PDT); on Saturday from 9:00 a.m. to 6:00 p.m., PDT; on Sunday from noon to 6:00 p.m., PDT; on Monday from 8 a.m. to 8 p.m., PDT; and thereafter from 9:00 a.m. to 5:00 p.m., PDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for Palm Desert National Bank.

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Plantation Federal Bank, Pawleys Island, SC

Plantation Federal Bank, Pawleys Island, SC, is the 21st FDIC-insured institution to fail in the nation this year, at an estimated cost to the FDIC Deposit Insurance Fund (DIF) of $76.0 million.

Plantation Federal Bank, Pawleys Island, South Carolina, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank (formerly known as First Federal Savings and Loan Association of Charleston), Charleston, South Carolina, to assume all of the deposits of Plantation Federal Bank.

The six branches of Plantation Federal Bank will reopen on Monday as branches of First Federal Bank, including the three branches operating under the name of First Savers Bank. Depositors of Plantation Federal Bank will automatically become depositors of First Federal Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Plantation Federal Bank should continue to use their existing branch until they receive notice from First Federal Bank that it has completed systems changes to allow other First Federal Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Plantation Federal Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, Plantation Federal Bank had approximately $486.4 million in total assets and $440.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, First Federal Bank agreed to purchase essentially all of the assets.

The FDIC and First Federal Bank entered into a loss-share transaction on $221.7 million of Plantation Federal Bank’s assets. First Federal Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit:http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-640-2538. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8 a.m. to 8 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for Plantation Federal Bank.

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Savings Bank, fsb D/B/A Interbank, fsb, Maple Grove, Minnesota

Savings Bank, fsb D/B/A Interbank, fsb, Maple Grove, Minnesota, is the 20th FDIC-insured institution to fail in the nationwide this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $117.5 million.

Inter Savings Bank, fsb D/B/A InterBank, fsb, Maple Grove, Minnesota, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Great Southern Bank, Reeds Spring, Missouri, to assume all of the deposits of InterBank, fsb.

The four branches of InterBank, fsb will reopen on Monday as branches of Great Southern Bank. Depositors of InterBank, fsb will automatically become depositors of Great Southern Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of InterBank, fsb should continue to use their existing branch until they receive notice from Great Southern Bank that it has completed systems changes to allow other Great Southern Bank branches to process their accounts as well.

This evening and over the weekend, depositors of InterBank, fsb can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, InterBank, fsb had approximately $481.6 million in total assets and $473.0 million in total deposits. In addition to assuming all of the deposits of the failed bank, Great Southern Bank agreed to purchase essentially all of the assets.

The FDIC and Great Southern Bank entered into a loss-share transaction on $413.0 million of InterBank, fsb’s assets. Great Southern Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit:http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-405-8357. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; on Monday from 8 a.m. to 8 p.m., CDT; and thereafter from 9:00 a.m. to 5:00 p.m., CDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for Savings Bank, fsb D/B/A Interbank, fsb.

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HarVest Bank of Maryland, Gaithersburg, MD

HarVest Bank of Maryland, Gaithersburg, MD, becomes the 19th FDIC insured bank to close in 2012. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.2 million.

HarVest Bank of Maryland, Gaithersburg, Maryland, was closed today by the Maryland Commissioner of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sonabank, McLean, Virginia, to assume all of the deposits of HarVest Bank of Maryland.

The four branches of HarVest Bank of Maryland will reopen during normal business hours as branches of Sonabank. Depositors of HarVest Bank of Maryland will automatically become depositors of Sonabank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of HarVest Bank of Maryland should continue to use their existing branch until they receive notice from Sonabank that it has completed systems changes to allow other Sonabank branches to process their accounts as well.

This evening and over the weekend, depositors of HarVest Bank of Maryland can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, HarVest Bank of Maryland had approximately $164.3 million in total assets and $145.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Sonabank agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-523-8275. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8 a.m. to 8 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for HarVest Bank of Maryland.

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Bank of the Eastern Shore, Cambridge, Maryland

Bank of the Eastern Shore, Cambridge, Maryland, is the 18th FDIC-insured institution to fail in the nation in 2012. The last FDIC-estimates that the cost to its Deposit Insurance Fund is estimated to be $41.8 million.

Bank of the Eastern Shore, Cambridge, Maryland was closed today by the Maryland Commissioner of Financial Regulation, which appointed Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of Eastern Shore (DINB), which will remain open until May 25, 2012 to allow depositors access to their insured deposits and time to open accounts at other insured institutions.

At the time of closing, the receiver immediately transferred to the DINB all insured deposits of Bank of the Eastern Shore, except for brokered deposits, certificates of deposits (CDs) and individual retirement accounts (IRAs). The receiver also transferred to the DINB all secured deposits by public entities.

The FDIC will mail checks directly to customers with CDs and IRAs. For the brokered deposit customers, the FDIC will pay the brokers directly for the amount of their insured funds. Customers with brokered deposits should contact their brokers directly for information concerning their money.

The main office and all branches of Bank of the Eastern Shore will reopen on Monday, April 30, 2012. The DINB will maintain Bank of the Eastern Shore’s normal business hours thereafter, until May 25, 2012. Banking activities, such as writing checks and using ATM and debit cards, can continue normally for former customers of Bank of the Eastern Shore until May 14, 2012. Direct Deposit, however, will end on May 18, 2012. Bank of the Eastern Shore official checks will continue to clear and will be issued to customers closing accounts.

All insured depositors of Bank of the Eastern Shore are encouraged to transfer their insured funds to other banks during this transitional period. They may do so by asking their new bank to electronically transfer their deposits from the DINB or by writing checks for the amount in their accounts. For depositors who have not closed or transferred their accounts on or before May 25, 2012, the FDIC will mail checks to the address of record for the amount of the insured funds.

Under the FDI Act, the FDIC may create a deposit insurance national bank to ensure that depositors have continued access to their insured funds where no other bank has agreed to assume the insured deposits. This arrangement allows for uninterrupted direct deposits and automated payments from customers’ accounts and allows them time to find another institution with which to do business.

As of December 31, 2011, Bank of the Eastern Shore had $166.7 million in total assets and $154.5 million in total deposits. At the time of closing, the amount of deposits exceeding the insurance limits were undetermined. Uninsured deposits were not transferred to the DINB. The amount of uninsured deposits will be determined once the FDIC obtains additional information from those customers.

Customers with accounts in excess of $250,000 should contact the FDIC toll-free at 1-800-591-2817 to set up an appointment to discuss their deposits. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8:00 a.m. to 8:00 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT.

If you should have any further questions please do not hesitate to visit the FDIC webpage for Bank of the Eastern Shore.

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Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey

Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey, becomes  the seventeenth FDIC-insured institution to fail in the nation this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.0 million.

Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Alma Bank, Astoria, New York, to assume all of the deposits of Fort Lee Federal Savings Bank, FSB.

The sole branch of Fort Lee Federal Savings Bank, FSB will reopen on Saturday as a branch of Alma Bank. Depositors of Fort Lee Federal Savings Bank, FSB will automatically become depositors of Alma Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Fort Lee Federal Savings Bank, FSB should continue to use their existing branch until they receive notice from Alma Bank that it has completed systems changes to allow other Alma Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Fort Lee Federal Savings Bank, FSB can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, Fort Lee Federal Savings Bank, FSB had approximately $51.9 million in total assets and $50.7 million in total deposits. Alma Bank will pay the FDIC a premium of 1.85 percent to assume all of the deposits of Fort Lee Federal Savings Bank, FSB. In addition to assuming all of the deposits of the failed bank, Alma Bank agreed to purchase approximately $15.7 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-430-8098. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; on Monday from 8 a.m. to 8 p.m., EDT; and thereafter from 9:00 a.m. to 5:00 p.m., EDT.

If you should have any further questions please do not hesitate to visit the FDIC web page for Fort Lee Federal Savings Bank.

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Fidelity Bank, Dearborn, Michigan

Fidelity Bank, Dearborn, Michigan, is the 16th FDIC-insured institution to fail in the nation in 2012. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $92.8 million.

Fidelity Bank, Dearborn, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Huntington National Bank, Columbus, Ohio, to assume all of the deposits of Fidelity Bank.

The 15 branches of Fidelity Bank will reopen on Saturday as branches of The Huntington National Bank. Depositors of Fidelity Bank will automatically become depositors of The Huntington National Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Fidelity Bank should continue to use their existing branch until they receive notice from The Huntington National Bank that it has completed systems changes to allow other The Huntington National Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Fidelity Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2011, Fidelity Bank had approximately $818.2 million in total assets and $747.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, The Huntington National Bank agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-523-8177. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST.

If you should have any further questions please do not hesitate to visit the FDIC web page for Fidelity Bank.

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Saguache County Credit Union of Moffat, Colorado

Saguache County Credit Union of Moffat, Colorado,  is the third federally insured credit union liquidation in 2012.

The Colorado Division of Financial Services appointed the National Credit Union Administration (NCUA) as liquidating agent of Saguache County Credit Union of Moffat, Colo., on March 23, 2012. Immediately following appointment as liquidating agent of Saguache County Credit Union, NCUA entered into an agreement with Aventa Credit Union of Colorado Springs, Colo., to purchase and assume membership shares and certain assets of Saguache County Credit Union.

The accounts of the new members of Aventa Credit Union remain federally insured by the National Credit Union Share Insurance Fund up to $250,000. There will be no interruption in services to the new members of Aventa. Aventa Credit Union is a federally insured, state-chartered credit union with $135 million in assets and 18,100 members.

The Colorado Division of Financial Services made the decision to liquidate Saguache County Credit Union and discontinue its operations after determining the credit union was insolvent with no prospect for restoring viable operations. At the time of liquidation, Saguache County Credit Union served 3,185 members and had assets of approximately $17 million.

Chartered in 1996, Saguache County Credit Union served people living in Saguache County and those who lived in Rio Grande or Alamosa counties and belonged to a cooperative.

Saguache County Credit Union is the third federally insured credit union liquidation in 2012.​

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Telesis Community Credit Union

Telesis Community Credit Union, is the third federally insured credit union placed into conservatorship during 2012. The $1.1 billion Public Service Employees Credit Union  who’s CEO was paid more than $9.8 million for his work in 2010, has been appointed the National Credit Union Administration (NCUA) as conservator.

The California Department of Financial Institutions today placed Telesis Community Credit Union into conservatorship and immediately appointed the National Credit Union Administration (NCUA) as conservator. Telesis Community Credit Union is a state-chartered, federally insured credit union headquartered in Chatsworth, Calif.

Deposits at Telesis Community Credit Union are protected by NCUA up to $250,000. Administered by NCUA, the National Credit Union Share Insurance Fund has the backing of the full faith and credit of the U.S. Government.

The state placed Telesis Community Credit Union into conservatorship due to a declining financial condition. During the conservatorship, service to Telesis Community Credit Union’s members will continue without interruption, and members can continue to conduct normal financial transactions.

Originally chartered in 1965, Telesis Community Credit Union’s field of membership currently includes, among others, various employer groups and individuals who live, work, worship or go to school in the San Fernando and Santa Clarita valleys or in Ventura County. With assets reported at $318.3 million in the latest Call Report, Telesis Community Credit Union has more than 37,600 members.

The Federal Credit Union Act authorizes the NCUA Board to accept appointment as conservator when necessary to conserve the assets of a federally insured credit union, protect members’ interests, or protect the National Credit Union Share Insurance Fund. Telesis Community Credit Union is the third federally insured credit union placed into conservatorship during 2012.

Members who have questions about the conservatorship may review the Telesis Community Credit Union Frequently Asked Questions document attached to this release.

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