what is the FDIC Bank Closing Information for Riverside Bank of the Gulf Coast?

FDIC Bank Closing Information for Riverside Bank of the Gulf Coast Failed Bank Information Information for Riverside Bank of the Gulf Coast, Cape Coral, FL 1. Introduction 2. Press Release 3. Acquiring Financial Institution 4. Question and Answer Guide 5. Banking Services 6. Loan Customers 7. Possible Claims Against the Failed Institution 8. Priority of Claims 9. Dividend Information 10. Brokered Deposits 11. Purchase and Assumption Agreement (537 KB PDF File - PDF Help) 12. Bid Summary 13. Riverside Bank of the Gulf Coast Contact Information 14. Balance Sheet Summary I. Introduction On Friday, February 13, 2009, Riverside Bank of the Gulf Coast was closed by the Florida Office of Financial Regulation 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. Back to top II. Press Release The FDIC has issued a press release (PR-021-2009) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr at 202-898-6992. Back to top III. Acquiring Financial Institution All non-brokered deposit accounts have been transferred to TIB Bank, Naples, FL ("assuming institution") and will be available immediately. On Tuesday, February 17, 2009, the former Riverside Bank of the Gulf Coast locations will reopen as branches of TIB Bank. Your transferred deposits will be separately insured from any accounts you may already have at TIB Bank for six months after the failure of Riverside Bank of the Gulf Coast. Checks that were drawn on Riverside Bank of the Gulf Coast 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: 1-800-823-5028 or visit 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 TIB Bank as long as the deposits are not pledged as collateral for loans. You may view more information about TIB Bank by visiting their web site. Source: http://www.fdic.gov/bank/individual/failed/riverside.html