DEPOSIT QUESTIONS
Over $250,000: What if I have more than $250,000
in my accounts at RockBridge Commercial Bank?
You should call the FDIC to schedule a telephone appointment with an FDIC
Claims Agent at 1-800-405-1604. 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 you are an investor with a deposit broker, you may need to complete one of
these forms only if your investment exceeds $250,000. However, you must mail
your form to your deposit broker for submission to the FDIC.
If your deposits DO NOT exceed $250,000, or if your deposits are in
a noninterest-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, please call 1-800-405-1604 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 1-800-405-1604 to schedule
a telephone appointment.
Account Insurance Status: Is my account fully insured? Is there a method
to verify whether my account(s) at RockBridge Commercial 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 1-800-405-1604
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 Monday, December 21, 2009 to the address on
record with RockBridge Commercial 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.
Brokered Deposits/Deposit Broker: I am a deposit
broker or I have brokered deposits. What do I need to do?
Brokered deposits will be held and paid directly by the FDIC. If you
are a customer who has a RockBridge Commercial Bank deposit through a
broker, you must contact your broker with any questions.
Checks not honored: A merchant will not honor my check. What can I do?
All checks will be returned and stamped "Bank Closed."
This document
is a letter (www.fdic.gov/bank/individual/failed/rockbridge_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 Monday, December
21, 2009 to your address on record with RockBridge Commercial
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 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 RockBridge
Commercial Bank.
If you had a loan with the bank, continue to make your checks
payable to RockBridge Commercial Bank 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?
All accounts have been closed. However, the FDIC has arranged for incoming government direct deposits,
including Social Security checks, to be redirected to BB&T. The BB&T branch location and phone number is provided below:
Sandy Springs Branch
6343 Roswell Rd.
Atlanta, GA 30328
1-404-250-5986
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You will be required to show appropriate identification to
the BB&T customer service representative to obtain your funds. Please remember these government direct deposit
payments will be processed at the same time they have been processed in the past.
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 Monday, December 21, 2009. You will NOT
be assessed an early withdrawal penalty.
Final Statement: When will I get my final
account statement(s) from RockBridge Commercial 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,
December 18, 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 December 21, 2009, to the address on record
with RockBridge Commercial Bank.
Accrued interest through December 18, 2009, will be included in
your insurance check and mailed on December 21, 2009, to the
address on record with RockBridge Commercial 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
1-800-405-1604.
Cashier's checks, certified checks, and money orders meet the
definition of noninterest-bearing transaction accounts. Under
the Temporary Liquidity Guarantee Program, noninterest-bearing
transaction accounts are fully insured. These items may be
exchanged for a replacement check by contacting the FDIC at
1-800-405-1604.
Internet Connection: Will my Internet connection to
RockBridge Commercial Bank work?
All accounts have been closed, and you will no longer have access
to the website. Please refer any questions to the FDIC Web Site and
Toll Free number at the top of this information packet.
IRAs: What if I have an Individual Retirement Account (IRA)?
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 Monday,
December 21, 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, December
18, 2009, are protected by the FDIC, to at least $250,000.
All accounts are insured 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
Claims 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 RockBridge Commercial Bank that did
not clear before the institution closed will be returned
indicating "Bank Closed." This document
is a letter (www.fdic.gov/bank/individual/failed/rockbridge_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. You should
contact your vendors as soon
as possible.
Records/Account Histories: What if I need information regarding my account during the time
RockBridge Commercial Bank was in business?
Please contact the FDIC at 1-800-405-1604 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 RockBridge Commercial 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).
If you have a deposit through a broker, your insured funds will be
wired to your broker on your behalf once the FDIC receives all
required documentation from your broker.
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: Can I continue to
obtain advances on my 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?
The FDIC as Receiver for RockBridge Commercial Bank will not be
originating any new loans. Please contact your loan officer directly to
obtain your loan in process file.
Loan Sweeps: Will my loan sweep be discontinued?
This will be determined on a case-by-case basis. Please contact your loan officer.
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 FDIC as Receiver for RockBridge Commercial 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
RockBridge Commercial 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 RockBridge Commercial 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. 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
RockBridge Commercial 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:
Steve Murray
1-786-433-0322 or 1-877-520-1112
Prescient Asset Management
2600 Douglas Rd., Suite 800
Coral Gables, FL 33134 |
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:
FDIC Public Information Center
3501 North Fairfax Drive
Room E-1002
Arlington, VA 22226
703-562-2200 Phone
703-562-2296 Fax
publicinfo@fdic.gov
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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 at 1-800-405-1604 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
February 22, 2010, 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 RockBridge Commercial Bank had no publicly owned stock.
Equity shareholders were invested in the holding company, RockBridge
Financial Holding Company, Atlanta, Georgia, 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:
RockBridge Financial Holding Company
5607 Glenridge Drive
Suite 100
Atlanta, GA 30342
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Unpaid Bill: I did some work for
RockBridge Commercial Bank and have not yet been paid. What should I do?
Please send your bills to the following address:
Federal Deposit Insurance Corporation
Receiver: RockBridge Commercial Bank
7777 Baymeadows Way West
Jacksonville, FL 32256
Attention: Claims Agent |
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).
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