American Eagle Savings Bank, Boothwyn, PA

American Eagle Savings Bank, Boothwyn, PA, becomes the third bank of 2012 should be shattered by the FDIC. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.2 million.

American Eagle Savings Bank, Boothwyn, Pennsylvania, 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 Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits of American Eagle Savings Bank.

The sole branch of American Eagle Savings Bank will reopen on Saturday as a branch of Capital Bank, National Association. Depositors of American Eagle Savings Bank will automatically become depositors of Capital Bank, National Association. 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 American Eagle Savings Bank should continue to use their existing branch until they receive notice from Capital Bank, National Association that it has completed systems changes to allow other Capital Bank, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of American Eagle Savings 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 September 30, 2011, American Eagle Savings Bank had approximately $19.6 million in total assets and $17.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, Capital Bank, National Association agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-355-0814. 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 questions please do not hesitate to visit the FDIC webpage for American Eagle Savings Bank.