|FDIC Call Center
Toll free number 1-800-356-1848
Hours of Operation – Pacific Time
|Friday, June 18, 2010:
|| Until 9:00 p.m.
June 19, 2010:
a.m. – 6:00
|Sunday, June 20, 2010:
|| Noon – 6:00
|| 8:00 a.m. – 8:00
On Friday, June 18, 2010, Nevada Security Bank, Reno, NV (also
known as Silverado Bank, Roseville, CA) was closed by the Nevada Financial
Institutions Division. The Federal Deposit
was then named Receiver. Subsequent to the closure, Umpqua Bank,
Roseburg, OR acquired substantially all the
of Nevada Security Bank
from the FDIC as Receiver for Nevada Security Bank. Any claims by equity
holders were not acquired. Share price does not trigger a bank closing
and was not the
for Nevada Security Bank’s failure.
The total balance in your account(s) has been transferred to Umpqua Bank and will be available for transactions during regular business
the former Nevada Security Bank branches.
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 Nevada
If you had an account with Nevada Security Bank, you now have an account
with Umpqua Bank, Roseburg, OR. All deposit accounts, which include checking,
savings, money market, CDs and retirement accounts, have been transferred
to Umpqua Bank, regardless of the dollar amount. No one lost any money
on deposit in Nevada Security Bank.
Customers of both banks should continue to use their existing branches until
Umpqua Bank can fully integrate the deposit records of Nevada Security Bank.
To forewarn you of any scams, please be advised that you will not
receive any notification from the FDIC, the Receiver, or Umpqua Bank to
claim/unlock/unsuspend your account or 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 Nevada
Security Bank, Umpqua Bank, or the FDIC.
ATM/debit card and/or Billpay: What about
my ATM/debit card and/or bill paying with Nevada Security 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-Deposits Transfer transaction, the total of
all deposit accounts, excluding the Cede & Co. brokered deposits, have
been assumed by Umpqua Bank. 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, Umpqua Bank will
accrue and pay interest on deposit liabilities at a rate it shall
determine; accordingly, Umpqua Bank 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 Nevada Security 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 Umpqua Bank: 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 Umpqua Bank 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 grace 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
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
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, June 18, 2010, will be
paid at your same rate. Umpqua Bank will review rates. If interest rates
will change, you will be notified. 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 Nevada Security Bank?
All mortgages and loans have been assumed by Umpqua Bank. 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
Nevada Security 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
Media: I represent a TV/Newspaper/Radio and
would like some information.
Please contact the Office of Public Affairs:
Outstanding Checks: What about checks that
I have written on my account with Nevada Security 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?
All shares of Nevada Security Bank were owned by its holding company,
The Bank Holdings, Reno, NV. The holding company was not included in the
closing of the bank or the resulting receivership. If you are a
shareholder of The Bank Holdings, please do not contact or file a claim
with the Receiver. You may contact The Bank Holdings directly for information
| The Bank Holdings
P.O. Box 19579
Reno, NV 89511
Telephone: Finley & Associates
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 Nevada Security Bank, together with proof of the claims,
must be submitted in writing to the Receiver at the following address:
Federal Deposit Insurance Corporation
Receiver: Nevada Security Bank
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent