On February 2, 2001, First Alliance Bank & Trust Company, Manchester,
NH was closed by the New Hampshire Banking Department, 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 dividends distributions as
required by law and the receivership estate is deemed terminated.
The FDIC has issued a press release 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 deposit accounts were transferred to Southern New Hampshire Bank &
Trust, Salem, NH and were available as usual during regular business hours at
the following Southern New Hampshire Bank & Trust offices: