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FDIC TO MARKET HAMILTON BANK, N.A., ASSETS

FOR IMMEDIATE RELEASE
PR-4-2002 (1-14-2002)
Media Contact:
Phil Battey (202) 898-6993

The Federal Deposit Insurance Corporation (FDIC) today announced that it will market a $1 billion loan portfolio from the failed Hamilton Bank, N.A., Miami, Florida, within the next 60 days.

Hamilton Bank, with approximately $1.3 billion in assets and $1.2 billion in deposits, was closed by the Office of the Comptroller of the Currency on January 11. The FDIC was named receiver and retained the majority of the assets of the failed institution.

The loan portfolio to be marketed consists of performing and non-performing international and domestic commercial loans, trade credits, and commercial real estate loans.

Parties interested in receiving future information about the loan portfolio sales should contact Cynthia Wilkins-Ware in the Loan Sales Department of the FDIC at (972) 761-8211 or via e-mail: cwilkins-ware@fdic.gov.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,747 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).

Last Updated 01/14/2002 communications@fdic.gov