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Failed Bank Information
Information for Millennium State Bank of Texas, Dallas, TX
  1. Introduction
  2. Press Release
  3. Acquiring Financial Institution
  4. Priority of Claims
  5. Dividend Information
  6. Purchase and Assumption Agreement (3.2 MB PDF File - PDF Help)
  7. Bid Summary
  8. Receivership Termination
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I.  Introduction
On Thursday, July 2, 2009, Millennium State Bank of Texas, Dallas, TX was closed by the Texas Department of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.

The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.

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II.  Press Release
The FDIC has issued a press release (PR-118-2009) 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.
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III.  Acquiring Financial Institution
All deposit accounts have been transferred to State Bank of Texas, Irving, TX ("assuming institution") and will be available immediately.  On Monday, July 6, 2009, the former Millennium State Bank of Texas location will reopen as a branch of State Bank of Texas.

You may contact State Bank of Texas at:
11950 Webb Chapel Road
Dallas, TX 75234

For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the FDIC's Electronic Deposit Insurance Estimator.

EDIE - FDIC's Electronic Deposit Insurance Estimator

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IV.  Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
  1. Depositors
  2. General Unsecured Creditors
  3. Subordinated Debt
  4. Stockholders
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V.  Dividend Information

Dividend History on Millennium State Bank of Texas

Dividend Information on Failed Financial Institutions

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VIII.  Receivership Termination

The FDIC as Receiver for the Millennium State Bank of Texas has taken all actions necessary to terminate the Receivership Estate.

The Receiver published a legal notice of intent to terminate the receivership on March 22, 2012.

The Receiver has made all dividend distributions required by law.

Effective May 8, 2012, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.

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Last Updated 10/26/2012 Customer Service