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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Question and Answer Guide

Bank of Florida - Southwest, Naples, FL
Bank of Florida - Southeast, Ft. Lauderdale, FL
Bank of Florida - Tampa Bay, Tampa, FL

En EspaƱol

FDIC Call Center
Naples: 1-800-894-2810
Ft. Lauderdale: 1-800-894-2927
Tampa: 1-800-894-3199

Hours of Operation – Eastern Time
Friday, May 28, 2010: Until 9:00 p.m.
Saturday, May 29, 2010: 9:00 a.m. – 6:00 p.m.
Sunday, May 30, 2010: Noon – 6:00 p.m.
Memorial Day, Monday, May 31, 2010: 8:00 AM – Noon
Thereafter: 8:00 a.m. – 8:00 p.m.

On May 28, 2010, Bank of Florida-Southwest in Naples, Bank of Florida-Southeast in Ft. Lauderdale, and Bank of Florida-Tampa Bay in Tampa (collectively, "Bank of Florida"), were closed by the Florida Office of Financial Regulation. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, EverBank, Jacksonville, FL acquired substantially all the deposits and assets of Bank of Florida from the FDIC as Receiver for Bank of Florida. Any claims by equity holders were not acquired. Share price does not trigger a bank closing and was not the reason for Bank of Florida’s failure.

The total balance in your account(s) has been transferred to EverBank and will be available for transactions during regular business hours at the former Bank of Florida 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 Bank of Florida? If you had an account with Bank of Florida, you now have an account with EverBank, Jacksonville, FL. All deposit accounts, which include checking, savings, money market, CDs and retirement accounts, have been transferred to EverBank, regardless of the dollar amount. No one lost any money on deposit in Bank of Florida.

Customers of both banks should continue to use their existing branches until EverBank can fully integrate the deposit records of Bank of Florida.

To forewarn you of any scams, please be advised that you will not receive any notification from the FDIC, the Receiver, or EverBank 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 Bank of Florida, EverBank, or the FDIC.

ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with Bank of Florida? 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 EverBank. 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, EverBank will accrue and pay interest on deposit liabilities at a rate it shall determine; accordingly, EverBank shall permit depositors, including brokered depositors to withdraw their deposits without penalty for early withdrawal.

If you are a customer who has a Bank of Florida 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 EverBank: 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 EverBank will be separately insured for at least six months after the merger. The accounts for each of the banks (Bank of Florida-Southeast, Bank of Florida-Southwest, and Bank of Florida-Tampa Bay) will also be separately insured for at least six months after the merger. Likewise, CDs from each failed bank are separately insured until the earliest maturity date after the end of the six-month grace period. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs for each bank 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 period.

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 period.

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, May 28, 2010, will be paid at your same rate. EverBank 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 Bank of Florida? All mortgages and loans have been assumed by EverBank. 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 Bank of Florida 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 the same.

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

Please contact the Office of Public Affairs:

Greg Hernandez

Outstanding Checks: What about checks that I have written on my account with Bank of Florida? 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 Bank of Florida were owned by its holding company, Bank of Florida Corporation, Naples, FL. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Bank of Florida Corporation, please do not contact or file a claim with the Receiver. You may contact Bank of Florida Corporation directly for information as follows:

Bank of Florida Corporation
1185 Immokalee Road
Suite 300
Naples, FL 34110

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 Bank of Florida, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

FIDC as Receiver for Bank of Florida
1601 Bryan Street
Dallas, TX  75201-3430
Attention: Claims Agent

SCAMS: Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating that they are acting on behalf of either the failed bank, new bank, or the FDIC. If you are contacted by anyone requesting personal information from you related to this event, please contact the FDIC Call Center listed above to report the incident.

For more information:


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