On May 30, 2008, First Integrity Bank NA, Staples, MN
was closed by the Office of the Comptroller of the Currency
(OCC) and the Federal Deposit Insurance Corporation (FDIC) 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 help answer many of your
The FDIC has issued a press release (PR-41-2008)
about the institution’s closure. If you represent a media
outlet and would like information about the closure, please
contact David Barr at
All deposit accounts have been
transferred to First International Bank and Trust, Watford
City, ND ("assuming institution"), and now with newly acquired
branches in Staples and Motley, MN. All deposit accounts will
be available as usual. The bank's drive up lanes will open on
Saturday May 31, during the normal hours of 8:30 - 11:30 am,
as will the lobbies at Staples and Motley locations.
Your transferred deposits will be separately insured from
any accounts you may already have at First International Bank
and Trust for six months after the failure of First Integrity
Bank, NA. Checks that were drawn on First Integrity Bank, NA
that did not clear before the institution closed will be
honored as long as there are sufficient funds in the
account. If you have questions about your account(s) transferred to the assuming bank, you may speak to an FDIC representative
regarding deposit insurance by calling 1-800-331-6306.
For general questions about FDIC deposit insurance coverage, please call 1-877-275-3342 or visit EDIE, the FDIC's Electronic Deposit Insurance Estimator.
You may withdraw your funds from any transferred account
without an early withdrawal penalty until you enter into a new
deposit agreement with First International Bank and Trust as
long as the deposits are not pledged as collateral for loans.
You may view more information about First International Bank
and Trust by visiting their web site.
You may continue to use the services to which
you previously had access, such as automatic teller machines
(ATMs), safe deposit boxes, night deposit boxes, wire
Your checks will be processed as usual. All outstanding
checks will be paid against your available balance(s) as if no
change had occurred. First International Bank and 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 First International Bank and
Trust, Customer Service Department, at the Staples branch at
218-894-1522 or the Motley branch at 218-352-6284. An
account representative will clear up any confusion about the
validity of your checks.
After May 30, 2008, your account will earn interest at a
rate determined by First International Bank and Trust. You
will be notified by letter regarding this matter.
Your automatic direct deposit(s) and/or automatic
withdrawal(s) should be transferred automatically to your
assuming institution. You should contact your assuming
institution, however, to discuss your account(s) and to insure
that service is not delayed or discontinued.
All your deposit account histories and records will be
transferred to your assuming institution. If your assuming
institution requires any additional signatures or forms, it
will notify you. If you have any questions or special
requests, you may contact a representative of First
International Bank and Trust at the Staples branch at
212-894-1522 or the Motley branch at 218-352-6284.
If you had a loan with First Integrity Bank, NA,
you should continue to make your payments as usual. The terms
of your loan will not change under the terms of the loan
contract because they are contractually agreed to in your
promissory note with the failed institution. Checks
should be made to your former bank and sent to the same
address until further notice.
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 First Integrity Bank, NA and
have not received a notice, please contact:
Federal Deposit Insurance Corporation Receiver: First Integrity Bank,
NA 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.