On August 22, 2008, The Columbian Bank and Trust Company, Topeka, KS was
the Kansas Office of the State Bank
Commissioner and the Federal Deposit
was named Receiver. No advance notice is given to the
public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking
account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct
deposit, and other relationships with the institution. The FDIC has compiled the following information which should
answer many of your questions.
The FDIC has issued a press release
the institution's closure. If you represent a media outlet and would
like information about the closure, contact David
Barr with the Office of Public Affairs at 202-898-6992. In
Kansas, you may contact Richard Schmalzer at
This link will allow you to verify the insurance status of each of your accounts. This link will be available
for use no later than the first business day after bank failure.
Simply enter your account number in the search screen. If you receive the message that "your account
is fully insured" a link will appear that provides you with additional information. If you receive the message that you should contact the FDIC, then a link will appear that provides
you contact information.
All insured non-brokered deposit accounts have been transferred to
Citizens Bank & Trust, Chillicothe, Missouri ("assuming institution")
and will be available immediately. Your
bank will re-open on Monday during regular business hours at the former The Columbian
Bank and Trust Company main office and branch locations.
Principal and interest on insured accounts, through August 22, 2008,
are fully insured by the FDIC, up to the insurance limit of $100,000. You
will receive full payment for your insured account. Certain entitlements
and different types of accounts can be insured for more than the $100,000
limit. IRA funds are insured separately from other types of accounts,
up to a $250,000 limit.
All accounts that exceed the $100,000 insurance limit, and/or all accounts
that appear to be related and exceed this limit, are reviewed by the FDIC
to determine their ownership and insurance coverage. If you think
you might have uninsured deposits you should call the FDIC Call Center to
arrange for a telephone interview with a Claims Agent at 800-523-8209.
The Claim Agent may direct you to download and submit a particular
form that will assist in expediting the processing of your claim.
FDIC Call Center
Hours of Operation
All Hours are Central Time
August 22, 2008:
6:00 p.m. – 9:00
August 23, 2008:
9:00 a.m. – 6:00 p.m.
August 24, 2008:
11:00 a.m. – 5:00 p.m.
8:00 a.m. – 8:00 p.m.
If it is determined that you have uninsured funds, the FDIC will generate
and mail to you a Receiver Certificate. This certificate entitles
you to share proportionately in any funds recovered through the disposal
of the assets of The Columbian Bank and Trust Company. This
means that you may eventually recover some of your uninsured funds.
Checks that were drawn on The Columbian Bank and Trust Company will be
honored up to your available balance or the insured amount. You may
withdraw funds from any transferred account without an early withdrawal penalty
until you enter into a new deposit agreement with Citizens Bank & Trust. A
hold may be in place on deposits accounts due to delinquent loans where the
depositor is the borrower or guarantor. Additionally, any account pledged
as collateral for a loan will be held.
The Automated Teller Machines (ATM) will remain available.
As of August 25, 2008 you may continue to use the services
to which you previously had access, such as,
online service, safe deposit boxes, night deposit boxes, wire services, etc.
Your checks will be processed as usual. All outstanding checks
will be paid against your available insured balance(s) as if no change
had occurred. Citizens Bank & Trust will
contact you soon regarding any changes in the terms of your account. If
you have a problem with a merchant refusing to accept your check, please
contact Citizens Bank & Trust,
Customer Service Department, at 785-233-1515. An account representative
will clear up any confusion about the validity of your checks.
All interest accrued through Friday, will be paid at your same rate. Citizens
Bank & Trust will
be reviewing rates and will provide further information soon. You
will be notified of any changes.
Your automatic direct deposit(s) and/or automatic withdrawal(s) will be
transferred automatically to Citizens
Bank & Trust. If
you have any questions or special requests, you may contact a representative
of your assuming institution at 785-233-1515.
If you had a loan with The Columbian Bank and Trust Company, you should
continue to make your payments as usual. The terms
of your loan will not change, as they are contractually
agreed to your promissory note. Checks
should be made payable as usual and sent to the same address until further
For all questions regarding new loans and the lending policies of Citizens
Bank & Trust, please
contact 785-233-1515 or visit the Citizens
Bank & Trust website at
Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. Shortly after the failure, the FDIC sends notices directly to all known service providers to explain the claim filing process.
Please note: there are time limits for filing a claim, as specified in the notice.
If you provided a service for Columbian Bank and Trust, and have
not received a notice, please contact:
Federal Deposit Insurance Corporation
Receiver: The Columbian Bank and
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas 75201
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site
outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance
coverage on custodial accounts deposited in a failed FDIC Insured Institution.