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Failed Bank Information
Net First National Bank, Boca Raton, FL, Closing Information
  1. Introduction
  2. Press Release
  3. Acquiring Financial Institution
  4. Priority of Claims
  5. Dividend Information
  6. Receivership Termination
I.  Introduction

On March 1, 2002, Net 1st National Bank ("Net 1st"), Boca Raton, FL was closed by the Office of the Comptroller of the Currency (OCC) 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 about the institution’s closure.  If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at (202) 898-6993.
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III.  Acquiring Financial Institution

All insured deposit accounts were transferred to Bank Leumi USA, New York, NY ("assuming institution") and were available immediately.  Your bank re-opened during regular business hours at the following Bank Leumi offices:

5295 Town Center Road
Boca Raton, FL  33486

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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 Net First National Bank

Dividend Information on Failed Financial Institutions
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VI.  Receivership Termination

The FDIC, as Receiver for Net First National Bank, Boca Raton, FL has taken all actions necessary to terminate the Receivership Estate.

The Receiver published a legal notice of intent to terminate the receivership in the Sun-Sentinel, Deerfield Beach, FL on August 20, 2006.

The Receiver has made all dividend distributions required by law.

Effective February 16, 2007, the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity.

General Disclaimer

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Last Updated 4/9/2008 Customer Service