Each depositor insured to at least $250,000 per insured bank

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
• FAQ For "No Value" Determination
8. Priority of Claims
9. Dividend Information
10. Brokered Deposits
11. Qualified Financial Contracts
12. Purchase and Assumption Agreement (581 KB PDF File - PDF Help)
13. Bid Summary
14. AmTrust Bank Contact Information
15. Balance Sheet Summary

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.

Your transferred deposits will be separately insured from any accounts you may already have at New York Community Bank for six months after the failure of AmTrust Bank. Checks that were drawn on AmTrust Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.  For more information on deposit insurance, you may speak to an FDIC representative by calling 1-800-450-5143 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 New York Community Bank as long as the deposits are not pledged as collateral for loans. You may view more information about New York Community Bank by visiting their web site.

New York Community Bank (www.mynycb.com)

As of Saturday, December 5, 2009, 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, December 4, 2009, will be paid at your same rate.  New York Community Bank 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.

For all questions regarding new loans and the lending policies of New York Community Bank, please contact your branch office.

Please see A Borrower’s Guide to an FDIC Insured Bank Failure for additional information.

DATES: The FDIC made its determination on April 30, 2011.

If you have questions regarding this notice, you may contact an FDIC Claims Agent at (904) 256-3925. Written correspondence may also be mailed to:

SUPPLEMENTARY INFORMATION: On December 4, 2009, AmTrust Bank, Cleveland, Ohio, (FIN #10155) was closed by the Office of Thrift Supervision ("OTS"), and the Federal Deposit Insurance Corporation ("FDIC") was appointed as its receiver ("Receiver"). In complying with its statutory duty to resolve the institution in the method that is least costly to the deposit insurance fund, see 12 U.S.C. § 1823(c)(4), the FDIC facilitated a transaction with New York Community Bank, Westbury, New York, to acquire the deposits and most of the assets of the failed institution.

Section 11(d)(11)(A) of the Federal Deposit Insurance Act, 12 U.S.C. § 1821(d)(11)(A), sets forth the order of priority for distribution of amounts realized from the liquidation or other resolution of an insured depository institution to pay claims. Under the statutory order of priority, administrative expenses and deposit liabilities must be paid in full before any distribution may be made to general unsecured creditors or any lower priority claims.

As of December 31, 2010, the value of assets available for distribution by the Receiver, together with anticipated recovery sources, including recoveries on claims against directors, officers, and other professionals, claims in bankruptcy, and refunds of federal and state taxes, was $3,102,153,098. As of the same date, administrative expenses and depositor liabilities equaled $4,555,852,340, exceeding available assets by $1,453,699,242. Accordingly, the FDIC has determined that insufficient assets exist to make any distribution on general unsecured creditor claims (and any lower priority claims) and therefore all such claims, asserted or unasserted, will recover nothing and have no value.

DATED: May 5, 2011

Federal Register /Vol. 76, No. 91 /Wednesday, May 11, 2011 /Notices Pg. 27320

FAQ For "No Value" Determination

Depositors

General Unsecured Creditors

Subordinated Debt

Stockholders

Dividend Information on Failed Financial Institutions

Deposit Broker's Processing Guide

See related FDIC press release (PR-222-2009) dated December 4, 2009, for further information regarding AmTrust Bank.