Platinum Community Bank, Rolling Meadows, IL was closed Friday, September 4, 2009, by the Office of Thrift Supervision. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was appointed Receiver. According to regulatory policy, there is no advance notice given to the public.

No one lost any insured deposits as a result of the closure of Platinum Community Bank. An assuming bank could not be located; therefore, the FDIC will fulfill its obligation to insured depositors by mailing checks for their insured amount(s).

Your insurance checks will be mailed on Tuesday, September 8, 2009 to your address on record with Platinum Community Bank and will be drawn on Federal Home Loan Bank of New York.

If the balance in your interest-bearing account(s) (this includes any accounts in which you have an ownership) is less than $250,000, or if your deposit is in a noninterest-bearing transaction account(s), no action is required on your part at this time.

Government Direct Deposits, including Social Security checks, will be redirected to MB Financial Bank, Chicago, IL. Please call 1-847-991-9393 for further information.

To forewarn you of any scams, please be advised that you will not receive any e-mail notification from the FDIC or the Receiver, 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 Platinum Community Bank or the FDIC.

DEPOSIT QUESTIONS

Over $250,000: What if I have more than $250,000 in my accounts at Platinum Community Bank?

You should call the FDIC to schedule a telephone appointment with an FDIC Claims Agent at 1-800-640-2751. If you have more than $250,000 in your interest-bearing account, or if the total of your related interest-bearing accounts exceeds $250,000, your accounts may require review by an FDIC Claims Agent.
If you have an interest-bearing account or group of interest-bearing accounts that exceeds $250,000, you may need to complete certain declarations or affidavits and provide documentation so that the FDIC can make an insurance determination on your account(s).

If your deposits DO NOT exceed $250,000, or if your deposits are in a non-interest bearing transaction account(s), you DO NOT need to complete these documents or contact the FDIC.

An account hold may be placed on an account due to the need for additional documentation from a depositor. For example, a Declaration for Trust form may be required to attest to the parties involved in a trust. These forms can be mailed to you, or you can access them online at: Deposit Claims (www.fdic.gov/regulations/laws/forms/#DepositClaims).

If you have a question regarding the completion of required affidavits or declarations, this website contains samples and instructions for completing the declarations. If your question is not resolved by going to the website, please call 1-800-640-2751 and indicate you have a form completion question.

Account Hold: I have been advised there is a hold on my account. What does that mean?

It is possible a depositor’s account was held due to delinquent loans where the depositor is the borrower or guarantor. Additionally, any account pledged as collateral for a loan will continue to be held. A letter will be sent informing you of any holds placed by the FDIC, along with instructions on how to proceed. If you have any questions regarding these holds, please call your loan officer or the FDIC at the number provided in the letter.

Another reason an account hold may be placed is due to the need for additional documentation from a depositor. For example, a Declaration for Trust form may be required to attest to the parties involved in the trust. Please contact the FDIC at 1-800-640-2751 to schedule a telephone appointment.

Account Insurance Status: Is my account fully insured? Is there a method to verify whether my account(s) at Platinum Community Bank are fully insured?

A tool, Is My Account Fully Insured? (https://www2.fdic.gov/drrip/afi/index.asp), is available that allows failed bank customers the ability to verify whether their account is fully insured or if they need to contact the FDIC.  This service will be available for use no later than the first business day after the bank's failure.  Once you enter your account number, your insurance status for that account will appear.  If there is a hold on your account, it may be due to the need for the additional documentation referenced in question number one. If there is a hold, you will need to contact the FDIC at 1-800-640-2751 to schedule a telephone appointment.

ATM/Debit Card/Checks: Can I continue to write checks or use my ATM/Debit card?

No. All accounts have been closed. The FDIC will mail your insurance check on Tuesday, September 8, 2009, to the address on record with Platinum Community Bank.

Automatic Payments/Online Billpay: Will my automatic payments through Billpay continue?

No. All accounts have been closed; therefore, you should contact your creditors to make other arrangements.

Checks not honored: A merchant will not honor my check. What can I do?

All checks will be returned and stamped "Where Payable." This document is a letter (www.fdic.gov/bank/individual/failed/platinum-il_return_checks_letter.html) you can provide to your creditors explaining that checks were returned through no fault of your own due to the bank closing, and this is no reflection on you.

Claim Account(s): How do I claim my account(s)?

The FDIC will mail your insurance check on Tuesday, September 8, 2009 , to your address on record with Platinum Community Bank. Please be advised that this money will be turned over to your state as unclaimed property if this check is not cashed within 18 months. Unclaimed property can be located by visiting www.missingmoney.com or contacting your state’s treasurer’s office or office of unclaimed property.

Customer Impact: How does this failure affect me?

All accounts have been closed, and the FDIC will mail your insurance check to your address on record with Platinum Community Bank.

If you had a loan with the bank, continue to make your checks payable to the same payee and mail to the same address you have used in the past until you are instructed otherwise.

Direct Deposits, Social Security: What will happen to my direct deposits?

The FDIC has arranged for all government direct deposits, including Social Security checks, to be redirected to MB Financial Bank, Chicago, IL. These will be processed at the same time they have been processed in the past. You may contact them at 1-847-991-9393.

Early withdrawal penalty: Will I incur an early withdrawal penalty if I close my CD before maturity?

Your CD will automatically be closed, and the FDIC will mail your insurance check on Tuesday, September 8, 2009. You will NOT be assessed an early withdrawal penalty.

Final Statement: How will I get my final account statement(s) from Platinum Community Bank?

You will receive a final statement within one week of the closing.

Interest: Will I continue to earn interest at the same rate?

All interest on insured deposits accrued through Friday, September 4, 2009, will be paid at your same rate. This will be included in the insurance check you will receive from the FDIC.

Interest Checks/Cashier's Checks: Can I cash my interest check or cashier's check?

No, these checks will not clear; Interest Checks, that have not been cashed, will be replaced with a new check issued by FDIC and mailed on September 8, 2009, to the address on record with Platinum Community Bank.

Accrued interest through September 4, 2009, will be included in your insurance check and mailed on September 8, 2009, to the address on record with Platinum Community Bank. If you have more than $250,000 in your interest-bearing account, or if the total of your related interest-bearing accounts exceeds $250,000, your accounts may require review by an FDIC Claims Agent before you are mailed a check. You should call the FDIC to schedule a telephone appointment with an FDIC Claims Agent at 1-800-640-2751.

Cashier's checks, certified checks, money orders meet the definition of non-interest-bearing transaction accounts. Under the Temporary Liquidity Guarantee Program, non-interest-bearing transaction accounts are fully insured. These items may be exchanged for a replacement check by contacting the FDIC at 1-800-640-2751.

Internet Connection: Will my Internet connection to Platinum Community Bank work?

All accounts have been closed, and you will no longer have access to the website.

IRAs: What if I have an Individual Retirement Account (IRA)? Will my savings still be insured?

From the date a check is issued to you from your IRA, you have 60 days to roll this over into another retirement vehicle. You should consult IRS Publication 590 and/or your tax advisor concerning the possible tax consequences of such distribution. This publication specifically addresses this situation; therefore, you should review it carefully. IRS Publication 590 may be obtained by contacting your local IRS office or via the Internet at www.irs.gov.

IRA funds are insured separately from other types of accounts up to $250,000. IRA checks for the insured amount will be mailed on Tuesday, September 8, 2009, to your address on record with the bank.

Lose Any Money: Will I lose anything on my deposit account?

Principal and interest on insured accounts, through Friday, September 4, 2009, are protected by the FDIC, to at least $250,000. Certain entitlements and different types of accounts can be insured in excess of the $250,000.

If you have more than $250,000 in your interest bearing account (or $250,000 in your IRA), or if the total of your related interest bearing accounts exceeds $250,000, your accounts may require review by an FDIC Claim Agent. All accounts that appear to be related are reviewed to determine ownership and insurance coverage. See question number one for information regarding forms you may need to complete to expedite this process.

Outstanding Checks: What will happen to the checks which have not cleared my account?

Checks that were drawn on Platinum Community Bank that did not clear before the institution closed will be returned indicating “Where Payable.” This document is a letter (www.fdic.gov/bank/individual/failed/platinum-il_return_checks_letter.html) you can provide to your creditors explaining the bank was closed, and checks have been returned through no fault of your own. You should contact your vendors as soon as possible.

Records/Account Histories: What if I need information regarding my account during the time Platinum Community Bank was in business?

Please contact the FDIC at 1-800-640-2751 to request a copy of your records.

Tax Reporting - 1098/1099s: Who will send my 1098 and/or 1099 information after the end of the year?

The FDIC will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.

Uninsured: Will I collect my uninsured deposits?

If you have a loan in the same name as your uninsured deposit account, it may be possible to offset your uninsured amount against your loan. You should discuss this with your Claims Agent during your appointment.

If it is determined that you have some uninsured funds, the FDIC will mail you a Receivership Certificate. This certificate entitles you to share proportionately in any funds recovered through the sale of the assets of Platinum Community Bank. You may eventually recover more of your uninsured funds as assets are liquidated.

When a financial institution is closed, and the Federal Deposit Insurance Corporation ("FDIC") is appointed as receiver, one of FDIC's responsibilities is to sell the institution's assets to pay the depositors and its creditors. The money generated by the sale of these assets will flow through the Receivership, and periodic dividend payments will be made to proven claimants when excess cash is available. For an explanation of the dividend process, go to FDIC Dividends from Failed Banks (http://www2.fdic.gov/divweb/index.asp).

Of course, you will receive immediate full payment for your insured amount by check being mailed on Tuesday, September 8, 2009

Wire Transfer: Can funds be wired to me?

No, regretfully, we cannot wire your funds.

LOAN QUESTIONS

Automatic Payments: Will my automatic transaction payment still occur on its assigned date?

No. All accounts have been closed. You should contact your loan officer to make other arrangements for your loan payments.

Construction Loan Draws: Will construction draws continue? Will my project be completed?

Each loan is being reviewed independently and will be determined on a case-by-case basis. You should direct your questions to your loan officer.

Construction Loan Voucher Control: Will my subcontractors be paid as before?

Each loan is being reviewed independently and will be determined on a case-by-case basis. You should direct your questions to your loan officer.

Escrows: Will you continue to pay my escrows?

All services previously performed related to your loan will continue. Should you receive notification that any portion of your taxes or insurance were not paid, please notify your loan officer immediately.

Fees: Are there any changes to fees or charges due to this event?

No. The current fee structure will remain the same.

Foreclosures: Will the FDIC continue foreclosures in process?

At this point, all foreclosure actions have been suspended in order to properly evaluate the loans and the borrowers’ ability to repay. It is our intention to sell all loans, and it will be up to the new owner to determine the best method of collection on the loan. There may be instances where FDIC will continue with the foreclosure process, but this will be done on a case-by-case basis.

Lender and contact names: Who is my lender and has my loan contact changed?

Your loan is currently owned by the FDIC and is being serviced by all of the same personnel with whom you have worked in the past. All prior contacts remain the same.

Loan Sales: Will my loan be sold?

Your loan may be sold at a future date. If that occurs, you will be notified in advance through written correspondence. If you are concerned about whom your future lender or servicer will be, you have the right to independently refinance your loan with another lender.

Line of Credit Advances – Home Equity: Can I continue to perform advances on my personal line of credit?

No. All lines of credit, including Home Equity Lines of Credit (HELOCs), have been suspended. You should contact another financial institution to discuss establishing a borrowing relationship.

Loan in Process: I have a loan currently in process. How is my loan impacted?

Please contact your loan officer directly.

Loan Sweeps: Will my loan sweep be discontinued?

Yes. Sweeps are discontinued. Please contact your loan officer for future arrangements.

Overdraft Line of Credit: Will my overdraft line of credit continue to cover my overdrafts?

No. All accounts have been closed.

Payments: How and where do I make my payments?

You should continue to make your payments as agreed. Make checks payable to Platinum Community Bank and utilize the same payment address information.

Pre-payment Penalty: If I refinance with another lender, will my pre-payment penalty be waived?

Any pre-payment penalty will be waived as long as FDIC as Receiver for Platinum Community Bank has control of the asset, and the borrower obtains refinancing of the outstanding balance on the account with another financial institution.

SBA Application in Process: What will happen to my SBA loan application in process?

The FDIC as Receiver for Platinum Community Bank will not be originating any new loans.

If your loan has been approved by the SBA, but is not yet funded, please contact your loan officer. He will direct you to the proper SBA contact to help you locate another approved lender.

If your loan is in process, but is not yet approved by the SBA, we will release your SBA package on file with us to you, and you will need to apply with another SBA-approved lender. Please contact your loan officer to make arrangements to retrieve your application from the bank.

What Happens Now: What will happen to my loan?

Each loan is currently being reviewed independently to determine the best action for that individual loan. Your loan may be sold at a future date. If that occurs, you will be notified in advance through written correspondence. If you are concerned about whom your future lender or servicer may be, you have the right to independently refinance your loan with another lender.

Offers to Purchase Other Real Estate: I was in the process of negotiating the purchase of real property held by Platinum Community Bank. Will my offer still be considered?

The FDIC, as Receiver has hired Prescient, Inc., to handle the management and disposition of real property acquired from the Institution. If you have questions regarding the status of your offer, please feel free to contact Prescient directly as follows:

GENERAL QUESTIONS

All-Deposit Transfer versus Insured Deposit Transfer: Why do all deposits, insured and uninsured, pass is some transactions but not in others?

When a buyer cannot be found for a failed bank, the FDIC honors its obligation to insured depositors by mailing an insurance check.

FDIC Insurance: How can I find out more about Federal Deposit Insurance rules?

You may access our website, which contains deposit insurance information and an Electronic Deposit Insurance Estimator (EDIE):

You may also order any FDIC publication:

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

Please contact the Office of Public Affairs:

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

Please call the FDIC, beginning Tuesday, September 8,00 2009, at 1-847-590-5200 to schedule an appointment to clear the contents of your safe deposit box.

Please be advised if you do not clear your safe deposit box before November 3, 2009, the box will be drilled under dual control. The contents will be escheated to your state as unclaimed property in accordance with state law. You will receive a letter at the address listed on the bank's records prior to your box being drilled. Unclaimed property can be located by visiting www.missingmoney.com or contacting your state treasurer's office or office of unclaimed property.

Shareholders: I am a shareholder. What happens to my shares?

The Platinum Community Bank had no publicly owned stock. Equity shareholders were invested in the holding company, Platinum Bancshares, Inc, Rolling Meadows, IL, and not in the bank. Please do not file a claim with the Receiver, rather contact the holding company with any questions you may have:

Unpaid Bill: I did some work for Platinum Community Bank and have not yet been paid. What should I do?

Please send your bills to the following address:

Work for FDIC – Contract or Employment: How can I apply to work for FDIC as a contractor or employee?

You may access information about doing business with the FDIC at
Procurement Opportunities (www.fdic.gov/buying/goods/opportunities/index.html)

You must also register in the Central Contractor Registration database at www.ccr.gov.
Entry into the database is not a guarantee that a contractor will receive a future solicitation.

You may also call 1-866-308-4470 for more information or send an email to ProcurementOpportunities@fdic.gov. Please include a statement of your corporate capabilities, contact information and Minority or Women-Owned Business (MWOB) status, if any.

To review positions currently available at the FDIC, visit Careers at FDIC (www.fdic.gov/about/jobs/index.html).