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Question and Answer Guide
Carson River Community Bank, Carson City, NV
FDIC Call Center
Toll free number 1-800-894-6802
Hours of Operation – Pacific Time
Friday, February 26, 2010:   Until 9:00 p.m.
Saturday, February 27, 2010:   9:00 a.m. – 6:00 p.m.
Sunday, February 28, 2010:   Noon – 6:00 p.m.
Thereafter:   8:00 a.m. – 8:00 p.m.


On February 26, 2010, Carson River Community Bank, Carson City, NV, was closed by the Nevada Department of Business and Industry, Financial Institutions Division. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Heritage Bank of Nevada, Reno, NV acquired substantially all the deposits and assets of Carson River Community Bank from the FDIC as Receiver for Carson River Community Bank. Any claims by equity holders were not acquired.

The total balance in your account(s) has been transferred to Heritage Bank of Nevada and will be available for transactions during regular business hours at the former Carson River Community Bank.

You may continue to use your same checks, ATM cards and debit cards until notified.

All Direct Deposits, including Social Security checks, will continue as usual.


Account(s): What about my account with Carson River Community Bank?

If you had an account with Carson River Community Bank, you now have an account with Heritage Bank of Nevada, Reno, NV. All deposit accounts, which include checking, savings, money market, CDs and retirement accounts, have been transferred to Heritage Bank of Nevada, regardless of the dollar amount. No one lost any money on deposit in Carson River Community Bank.

Customers of both banks should continue to use their existing branches until Heritage Bank of Nevada can fully integrate the deposit records of Carson River Community Bank.

To forewarn you of any scams, please be advised that you will not receive any notification from the FDIC, the Receiver, or Heritage Bank of Nevada to provide any private information. Please be watchful for and resist any such scams to obtain information from you by individuals or entities purporting to act on behalf of Carson River Community Bank, Heritage Bank of Nevada, or the FDIC.

ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with Carson River Community Bank?

Your ATM/debit card will continue to work, and bill paying will work as it has in the past.

Brokered Deposits: I am a deposit broker or have brokered deposits. What do I do?

As an All-Deposit Transfer transaction, the total of all deposit accounts, excluding the Cede & Co. brokered deposits have been assumed by Heritage Bank of Nevada. The FDIC retained the Cede & Co. brokered deposits and will pay those accounts off directly.

Be advised, however, that from and after the date of closing, Heritage Bank of Nevada will accrue and pay interest on deposit liabilities at a rate it shall determine; accordingly, Heritage Bank of Nevada shall permit depositors, including brokered depositors, impacted by reduced rates to withdraw their deposits without penalty for early withdrawal.

If you are a customer who has a Carson River Community Bank deposit through a broker, you must contact your broker with any questions.

Direct Deposits - Government Deposits: What will happen to my direct deposits?

Direct Deposits, including Social Security checks, will continue as normal.

Existing Deposits at Heritage Bank of Nevada: I already have other deposit accounts with the new bank.  When combined with balances at this bank, my deposits exceed $250,000.  Are all funds insured?

The accounts transferred to Heritage Bank of Nevada will be separately insured for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the failed bank are separately insured until the earliest maturity date after the end of the six-month grace period.

CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period.

If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.

Interest Rates, Early Withdrawal Penalty: Will I continue to earn interest at the same rate?  Will I be charged an early withdrawal penalty?

Interest on all deposits accrued through Friday, February 26, 2010, will be paid at your same rate. Heritage Bank of Nevada will review rates and notify you if interest rates will change. Your interest rate may be reduced.

You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank. Entering into a new deposit agreement can be done by either renewing your CD or making a deposit to or a withdrawal from your account.

Loans/mortgages: What about my loan or mortgage with Carson River Community Bank?

Most mortgages and loans have been assumed by Heritage Bank of Nevada. Your payment amount and due date are the same. If you are having your payment deducted from your account, it will continue as it has in the past. You should continue to make your checks payable to Carson River Community Bank and send your payments to the same address.

Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer.  All prior contacts remain the same.

Media: I represent a TV/Newspaper/Radio and would like some information.

Please contact the Office of Public Affairs:

LaJuan Williams-Young
1-202-898-3876
lwilliams-young@fdic.gov

Outstanding Checks: What about checks that I have written on my account with Carson River Community Bank?

Your checks will clear up to the available balance in your account.  You can continue to use your existing checks.

Safe Deposit Boxes: How can I claim the contents of my safe deposit box?

It is business as usual.  You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.

Shareholders: What about my shares of stock?

Shareholders have a claim against the receivership; however, they have the lowest priority of claim. You should discuss this with an accountant and/or the IRS concerning the exact requirements necessary to recognize the investment as a loss for tax purposes. The FDIC does not require stockholders to file a claim with the Receiver. However, we recommend that you keep our office informed of any address change, should we need to contact you in the future.

Transaction Types: Why do all deposits, insured or not, pass in some transactions but not in others?

The FDIC is required by law to employ the least-cost resolution measure for each failed financial institution. The most frequent result had been for the FDIC to transfer only the insured deposits in a Purchase and Assumption transaction; however, the temporary increase in the deposit insurance limit has assisted in the transfer of all deposits more often in the past year.

Unpaid Bills: I did some work for the bank and have not been paid. What should I do?

All claims against Carson River Community Bank, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

 

Federal Deposit Insurance Corporation
Receiver: Carson River Community Bank
1601 N. Bryan Street
Dallas, TX  75201-3430
Attention: Claims Agent




Last Updated 08/23/2012 cservicefdicdal@fdic.gov