Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any Phishing Scams to obtain information from you.
On Friday, March 26, 2010, Key West Bank, Key West, FL was
closed by the Office of Thrift Supervision, 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.
The FDIC has issued a press release
(PR-067-2010) about
the institution's closure. If you represent a media outlet and would
like information about the closure, please contact LaJuan
Williams-Young at 1-202-898-3876.
All deposit accounts, excluding certain brokered deposits, have
been transferred to
Centennial Bank, Conway, AR ("assuming
institution")
and will be available immediately. The former Key West Bank location
will reopen as a branch of Centennial Bank during
regular business hours.
Your transferred deposits will be separately insured from any accounts
you may already have at Centennial Bank for six
months after the failure of Key West Bank. Checks
that were drawn on Key West Bank that did not
clear before the institution closed will be honored as long as there are
sufficient funds in the account. If you have questions about your account(s) transferred to the assuming bank,
you may speak to an FDIC representative by calling 1-800-830-4697.
For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the 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 Centennial Bank as long as
the deposits are not pledged as collateral for loans. You may view more
information about Centennial Bank by visiting their web site.
The Automated Teller Machines (ATM) and online service will remain available.
The bank will maintain its regular business hours and 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, March 26,
2010 will be paid at your same rate. Centennial 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.
If you had a loan with Key West Bank, you should
continue to make your payments as usual. The
terms of your loan will not change, because they are contractually agreed to
in your promissory note. Checks should be made payable as usual and sent to the
same address until further notice. If you have further questions regarding an
existing loan, please contact
your loan officer.
For all questions regarding new loans and the lending policies of Centennial Bank, please contact your branch office.
Claims against failed financial institutions occur when bills sent to the
institution remain unpaid at the time of failure. If you or your company provided
a service or product, leased space, furniture,
or equipment to Key West Bank after
Friday, March 26, 2010 and have
not been paid, you do not have
a claim against Key West Bank. Please follow
your normal billing procedures by providing an invoice as instructed.
If you or your company provided a service
or product, leased space, furniture, or equipment to Key West Bank prior
to Friday, March 26, 2010 and have
not
been
paid, you may be
entitled to a claim against the bank. If you provided a product to or a service
for Key West Bank prior to the bank's failure
for
which you have not
been
paid
and you have not received communication, please
contact:
Federal Deposit Insurance Corporation
Receiver: Key West Bank
8800 Baymeadows Way West
Jacksonville, FL 32256
Attention: Claims Agent
Please note: There are time limits for filing a claim, your claim must be filed on or before 6/30/2010.
All shares of Key West Bank were owned by its holding company, Key West
BancGroup, Inc., Key West, FL. The holding company was not included in
the closing of the bank or the resulting receivership. If you
are a shareholder of Key West BancGroup, Inc., please do not contact or
file a claim with the Receiver. You may contact Key West BancGroup, Inc.
directly for information as follows:
Key West BancGroup, Inc.
701 Whitehead St.
Key West, FL 33040
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site
outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance
coverage on custodial accounts deposited in a failed FDIC Insured Institution.
