FDIC Call Center
Toll free number 1-800-894-2013
Hours of Operation – Central Time
Friday, April 30, 2010:
Until 9:00 p.m.
May 01, 2010:
a.m. – 6:00
Sunday, May 02, 2010:
Noon – 6:00
8:00 a.m. – 8:00
On Friday, April 30, 2010, BC National Banks, Butler, MO
was closed by the Office of the Comptroller of the Currency. The Federal
was then named Receiver. Subsequent to the closure, Community First Bank,
Butler, MO acquired substantially all the
of BC National Banks
from the FDIC as Receiver for BC National Banks. Any claims by equity holders
were not acquired.
The total balance in your account(s) has been transferred to Community
First Bank and will be available for transactions during regular business
the former BC National Banks 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.
What about my account with BC National Banks?
If you had an account with BC National Banks, you now have an account
with Community First Bank, Butler, MO. All deposit
accounts, which include
checking, savings, money market, CDs and retirement accounts, have been
transferred to Community First Bank, regardless of the dollar amount.
No one lost any money
on deposit in BC National Banks.
Customers of both banks should continue to use their existing branches until
Community First Bank can fully integrate the deposit records of BC National
To forewarn you of any scams, please be advised that you will not receive
any notification from the FDIC, the Receiver, or Community First Bank
to claim/unlock/unsuspend your account or to provide any private information.
be watchful for and resist any such scams to obtain information from you by
individuals or entities purporting to act on behalf of the FDIC, Community First
Bank, or BC National Banks.
I am a deposit broker or have brokered deposits. What do I do?
As an All-Deposit Transfer transaction, the total of
all deposit accounts have been assumed by Community First Bank.
Be advised, however, that from and after the date of closing,
Community First Bank will accrue and pay interest on deposit
liabilities at a rate it shall determine; accordingly,
Community First Bank shall permit depositors, including brokered depositors,
by reduced rates to
deposits without penalty for early withdrawal.
If you are a customer who has a BC National Banks deposit through a broker, you must contact your broker with any questions.
Existing Deposits at Community First 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 Community First 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 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, April 30, 2010,
will be paid at your same rate. Community First 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
a deposit to or a withdrawal from your account.
What about my loan or mortgage with BC National Banks?
Substantially all mortgages and loans have been assumed by Community First
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 BC National Banks
and send your payments to the same address.
All shares of BC National Banks were owned by its holding company, Amoret Bancshares Inc.,
Butler, MO. The holding
company was not included in the closing of the bank or the
resulting receivership. If you are a
shareholder of Amoret Bancshares Inc., please do not
contact or file a claim with the Receiver. You may contact
Amoret Bancshares Inc. directly for information
Amoret Bancshares Inc.
1109 West Fort Scott Street Butler, MO 64730 1-660-679-6191
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.