On June 25, 2004, Bank of Ephraim, Ephraim, UT was
closed under a court order sought by the Commissioner of the Utah Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was
named Receiver. As
Receiver, the FDIC is charged with winding up the business affairs of the
failed financial institution. This includes the disposition of assets and
liabilities of the failed financial institution and payment of dividends to
approved creditors in order of priority.
The FDIC, as Receiver, has taken all necessary actions to conclude the affairs
of the failed financial institution, made all dividend distributions as
required by law and the receivership estate is deemed terminated.
The FDIC has issued a press release (PR-69-2004) about the institutions
closure. If you represent
a media outlet and would like information about the closure, please
contact the FDIC Public Affairs Office at (202) 898-6993.
All insured deposit accounts were
transferred to Far West Bank, Provo, UT ("assuming institution")
and were available immediately. Your bank re-opened during regular
business hours at the following former Bank of Ephraim
757 North Main Street
Ephaim, UT 84627
Main Street Ephraim, UT 84627
1095 South Hwy 89 Mount Pleasant, UT 84647
The branch at 1195 West Utah Ave., Hilldale, UT 84784, did not reopen.
Customers of this branch may contact the Far West Bank branch at 308 West
Tabernacle, St. George, UT.
You may view more information about Far West Bank by visiting
their web site.