Western National Bank, Phoenix, Arizona

Western National Bank, Phoenix, Arizona,  is the 92nd FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.6 million.

Western National Bank, Phoenix, Arizona, 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 Washington Federal, Seattle, Washington, to assume all of the deposits of Western National Bank.

The three branches of Western National Bank will reopen on Monday as branches of Washington Federal. Depositors of Western National Bank will automatically become depositors of Washington Federal. 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 Western National Bank should continue to use their existing branch until they receive notice from Washington Federal that it has completed systems changes to allow other Washington Federal branches to process their accounts as well.

This evening and over the weekend, depositors of Western 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 September 30, 2011, Western National Bank had approximately $162.9 million in total assets and $144.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Washington Federal agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-405-7869. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; on Monday from 8 a.m. to 8 p.m., MST; and thereafter from 9:00 a.m. to 5:00 p.m., MST.

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

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Premier Community Bank of the Emerald Coast, Crestview, Florida

Premier Community Bank of the Emerald Coast, Crestview, Florida, becomes the 91st FDIC-insured institution to fail in the nation in 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.2 million.

Premier Community Bank of the Emerald Coast, Crestview, Florida, was closed today by the Florida Office 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 Summit Bank, National Association, Panama City, Florida, to assume all of the deposits of Premier Community Bank of the Emerald Coast.

The two branches of Premier Community Bank of the Emerald Coast will reopen on Monday as branches of Premier Community Bank, a division of Summit Bank, National Association. Depositors of Premier Community Bank of the Emerald Coast will automatically become depositors of Summit 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 Premier Community Bank of the Emerald Coast should continue to use their existing branch until they receive notice from Summit Bank, National Association that it has completed systems changes to allow other Summit Bank, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of Premier Community Bank of the Emerald Coast 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, Premier Community Bank of the Emerald Coast had approximately $126.0 million in total assets and $112.1 million in total deposits. In addition to assuming all of the deposits of the failed bank, Summit Bank, National Association agreed to purchase essentially all of the assets.

The FDIC and Summit Bank, National Association entered into a loss-share transaction on $98.0 million of Premier Community Bank of the Emerald Coast’s assets. Summit Bank, National Association 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 1-800-405-6318. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST.

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

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O.U.R. Federal Credit Union in Eugene, Oregon

O.U.R. Federal Credit Union in Eugene, Oregon, was liquidated by the National Credit Union Administration (NCUA).

The NCUA said Friday night that it had liquidated the $4.25 million O.U.R. Federal Credit Union in Eugene, Ore., and sold “certain … assets and member shares” to the $675 million Northwest Community CU in Springfield, Ore.

The liquidation of the 1,379-member O.U.R. FCU followed its going into conservatorship in June. It was founded in 1969 and served the residents of Lane County, Ore., participating within the past 12 months in programs of the Lane County Department of Community Health and Social Services, the NCUA said.

“NCUA made the decision to liquidate and discontinue the operations of O.U.R. Federal Credit Union after determining the credit union was insolvent and has no prospect for restoring viable operations on its own,” the agency said in a statement.

The NCUA said the liquidation was the 14^th of a federally insured credit union this year. The agency said the former credit union’s members will now be members of Northwest Community CU with no interruption in service or asset insurance coverage.

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BCT Federal Credit Union of Binghamton, N.Y.

BCT Federal Credit Union of Binghamton, N.Y., has been liquidated by the National Credit Union Administration (NCUA) for insolvency.

The National Credit Union Administration (NCUA) liquidated BCT Federal Credit Union of Binghamton, N.Y., today. Visions Federal Credit Union of Endicott, N.Y., immediately assumed BCT Federal Credit Union’s assets, liabilities, and member shares.

The accounts of the new Visions Federal Credit Union members remain federally insured by the National Credit Union Share Insurance Fund up to $250,000. The new Visions Federal Credit Union members will also experience no interruption in services. Visions Federal Credit Union is a federally chartered credit union with $2.7 billion in assets and approximately 127,000 members.

NCUA made the decision to liquidate BCT Federal Credit Union and discontinue operations after determining the credit union was insolvent and has no prospect for restoring viable operations on its own. At the time of liquidation and subsequent purchase by Visions Federal Credit Union, the former credit union served approximately 3,900 members and had deposits of approximately $41.3 million.

Chartered in 1941, BCT Federal Credit Union served employees of public, private and parochial schools throughout Broome County, N.Y., and other similar groups from surrounding counties and towns in New York and Pennsylvania, as well as various select employee groups.

BCT Federal Credit Union is the thirteenth federally insured credit union liquidation in 2011.

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Central Progressive Bank, Lacombe, Louisiana

Central Progressive Bank, Lacombe, Louisiana, is the 90th FDIC-insured institution to fail in the nation in 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.1 million.

Central Progressive Bank, Lacombe, Louisiana, was closed today by the Louisiana Office of Financial Institutions, 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 NBC Bank, New Orleans, Louisiana, to assume all of the deposits of Central Progressive Bank.

The 17 branches of Central Progressive Bank will reopen during their normal business hours beginning Saturday as branches of First NBC Bank. Depositors of Central Progressive Bank will automatically become depositors of First NBC 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 Central Progressive Bank should continue to use their existing branch until they receive notice from First NBC Bank that it has completed systems changes to allow other First NBC Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Central Progressive 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, Central Progressive Bank had approximately $383.1 million in total assets and $347.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, First NBC Bank agreed to purchase approximately $354.4 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            1-800-234-9027      . The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST.

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

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Polk County Bank, Johnston, Iowa

Polk County Bank, Johnston, Iowa, is the 89th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.0 million.

Polk County Bank, Johnston, Iowa, was closed today by the Iowa Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Grinnell State Bank, Grinnell, Iowa, to assume all of the deposits of Polk County Bank.

The three branches of Polk County Bank will reopen on Saturday as branches of Grinnell State Bank. Depositors of Polk County Bank will automatically become depositors of Grinnell State 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 Polk County Bank should continue to use their existing branch until they receive notice from Grinnell State Bank that it has completed systems changes to allow other Grinnell State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Polk County 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, Polk County Bank had approximately $91.6 million in total assets and $82.0 million in total deposits. In addition to assuming all of the deposits of the failed bank, Grinnell State Bank agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at            1-800-331-6306      . The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST.

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

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Community Bank of Rockmart, Rockmart, Georgia

Community Bank of Rockmart, Rockmart, Georgia, is the 88th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.5 million.

Community Bank of Rockmart, Rockmart, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Century Bank of Georgia, Cartersville, Georgia, to assume all of the deposits of Community Bank of Rockmart.

In observance of the Veterans’ Day holiday, the sole branch of Community Bank of Rockmart will reopen during normal business hours on Saturday, November 12, as a branch of Century Bank of Georgia. Depositors of Community Bank of Rockmart will automatically become depositors of Century Bank of Georgia. 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 Community Bank of Rockmart should continue to use their existing branch until they receive notice from Century Bank of Georgia that it has completed systems changes to allow other Century Bank of Georgia branches to process their accounts as well.

This evening and over the holiday weekend, depositors of Community Bank of Rockmart 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, Community Bank of Rockmart had approximately $62.4 million in total assets and $55.9 million in total deposits. In addition to assuming all of the deposits, Century Bank of Georgia agreed to purchase approximately $40.7 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            1-800-528-6215      . The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Friday and 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 8:00 a.m. to 8:00 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST.

If you should have any futher questions please visit the FDIC webpage for Community Bank of Rockmart.

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SunFirst Bank, Saint George, Utah

SunFirst Bank, Saint George, Utah, is the 87th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $49.7 million.

SunFirst Bank, Saint George, Utah, was closed today by the Utah Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Cache Valley Bank, Logan, Utah, to assume most of the deposits of SunFirst Bank. The FDIC will retain approximately $15 million in deposits that may be subject to external litigation involving SunFirst Bank. The affected accounts were frozen prior to the failure of the bank. All other accounts were transferred to Cache Valley Bank.

The three branches of SunFirst Bank will reopen during their normal business hours beginning Saturday as branches of Cache Valley Bank. Depositors of SunFirst Bank will automatically become depositors of Cache Valley 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 SunFirst Bank should continue to use their existing branch until they receive notice from Cache Valley Bank that it has completed systems changes to allow other Cache Valley Bank branches to process their accounts as well.

This evening and over the weekend, depositors of SunFirst Bank whose accounts were assumed by Cache Valley Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on those accounts will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, SunFirst Bank had approximately $198.1 million in total assets and $169.1 million in total deposits. In addition to assuming deposits of the failed bank, Cache Valley Bank agreed to purchase approximately $177.3 million of the failed bank’s assets. The FDIC will retain the balance of the assets for later disposition.

The FDIC and Cache Valley Bank entered into a loss-share transaction on $128.9 million of SunFirst Bank’s assets. Cache Valley 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            1-800-895-0643      . The phone number will be operational this evening until 9:00 p.m., Mountain Daylight and (MDT); on Saturday from 9:00 a.m. to 6:00 p.m., MDT; on Sunday from noon to 6:00 p.m., Mountain Standard Time (MST); on Monday from 8 a.m. to 8 p.m., MST; and thereafter from 9:00 a.m. to 5:00 p.m., MST.

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

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Mid City Bank, Inc., Omaha, Nebraska

Mid City Bank, Inc., Omaha, Nebraska, is the 86th FDIC-insured institution to fail in the nation in 2011. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.7 million.

Mid City Bank, Inc., Omaha, Nebraska, was closed today by the Nebraska Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Purdum State Bank, Purdum, Nebraska, to assume all of the deposits of Mid City Bank, Inc.

Beginning Saturday Purdum State Bank will change its name to Premier Bank, at which time the five branches of Mid City Bank, Inc., will reopen during their normal business hours under the new name. Depositors of Mid City Bank, Inc. will automatically become depositors of 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 Mid City Bank, Inc. should continue to use their existing branch until they receive notice from Premier Bank that it has completed systems changes to allow other Premier Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Mid City Bank, Inc. 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, Mid City Bank, Inc. had approximately $106.1 million in total assets and $105.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Purdum State Bank agreed to purchase essentially all of the assets.

Customers with questions about today’s transaction should call the FDIC toll-free at            1-800-356-1848      . 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.,Central Standard Time (CST); on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST.

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

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Birmingham Financial Federal Credit Union

Birmingham Financial Federal Credit Union, has been placed into conservatorship by The National Credit Union Administration (NCUA).

The NCUA conserved and moved the office of Birmingham Financial FCU on Thursday.

The $1.3 million Alabama credit union has experienced a decline in assets and certain key ratios, according to its Financial Performance Report.

The 429-member credit union saw its income decline during each of the past three quarters. It lost $107,843 during the second quarter of this year, $2,534 during the first quarter of this year and $54,159 during the last quarter of 2010.

The NCUA said its members can now access their accounts Monday – Friday from 10 a.m. to 2 p.m. at the America’s First FCU office at 1200 4th Ave. North in Birmingham.

Birmingham Financial FCU serves the employees of Birmingham Housing Authority and Birmingham Health Care who work in Birmingham.

The credit union had assets of $1.3 million at the end of June. It had $4.9 million assets at the end of March and $1.3 million at the end of last December.

Its net worth ratio was 9.8% as of June 230, 4.72% as of March 31 and 17.6% as of last Dec. 31.

The credit union’s return on average assets ratio was -16% as of June 30, -.32% on March 31 and -4.8% as of last Dec. 31.

Its delinquent loan ratio was 26.9% as of June 30, 9.9% as of March 31 and 7.4% as of last Dec. 31.

The NCUA said that “service will continue uninterrupted” while the agency works “to resolve issues affecting the institution.’’

For more information please visit the National Credit Union Administration (NCUA) web site for Birmingham Financial Federal Credit Union.

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