Each depositor insured to at least $250,000 per insured bank

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Question and Answer Guide
Bank of Leeton, Leeton, MO
FDIC Call Center
Toll free number 1-800-523-8209
Hours of Operation – Central Time
Friday, January 22, 2010:   Until 9:00 p.m.
Saturday, January 23, 2010:   9:00 a.m. – 6:00 p.m.
Sunday, January 24, 2010:   Noon – 6:00 p.m.
Thereafter:   8:00 a.m. – 8:00 p.m.

On January 22, 2010, Bank of Leeton, Leeton, MO, was closed by the Missouri Division of Finance. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Sunflower Bank, National Association, Salina, KS acquired all the deposits of Bank of Leeton from the FDIC as Receiver. Any claims by equity holders were not acquired.

The total balance in your account(s) has been transferred to Sunflower Bank, N.A. and will be available for transactions during regular business hours at the former Bank of Leeton branch starting on Saturday, January 23, 2010.

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.

Account(s): What about my account with Bank of Leeton?

If you had an account with Bank of Leeton, you now have an account with Sunflower Bank, N.A., Salina, KS. All deposit accounts, which include checking, savings, money market, CDs and retirement accounts, have been transferred to Sunflower Bank, N.A., regardless of the dollar amount. No one lost any money on deposit in Bank of Leeton.

Customers of both banks should continue to use their existing branches until Sunflower Bank, N.A. can fully integrate the deposit records of Bank of Leeton.

To forewarn you of any scams, please be advised that you will not receive any e-mail notification from the FDIC, the Receiver, or Sunflower Bank, N.A. to claim/unlock/unsuspend your account or to provide any private information. Please be watchful for and resist any such scams to obtain information from you by individuals or entities purporting to act on behalf of Bank of Leeton or the FDIC.

ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with Bank of Leeton?

Your ATM/debit card will continue to work, and bill paying will work as it has in the past.

Direct Deposits - Government Deposits: What will happen to my direct deposits?

Direct Deposits, including Social Security checks, will continue as normal.

Existing Deposits at Sunflower Bank, N.A.: 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 Sunflower Bank, N.A. 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, January 22, 2010, will be paid at your same rate. Sunflower Bank, N.A. will review rates and notify you if interest rates will change. 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 CD or making a deposit to or a withdrawal from your account.

Loans/mortgages: What about my loan or mortgage with Bank of Leeton?

Your loan is currently owned by the FDIC and is being serviced by all of the same personnel with whom you have worked in the past. All prior contacts remain the same. Your 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 Bank of Leeton and send your payments to the same address.

Loan Payment: Will my automatic payment still occur on its assigned date?

You should experience no disruption in this service. We encourage you to check your bank account the day after your scheduled draft to verify the transaction. If the transaction did not occur, please notify your loan officer to research your loan.

Escrow Payments: Will you continue to pay my escrows?

All services previously performed related to your loan will continue. Should you receive notification that any portion of your taxes or insurance were not paid, please notify your loan officer immediately.

Foreclosures: Will the FDIC continue foreclosures in process?

At this point, all foreclosure actions have been suspended in order to properly evaluate the loans and the borrowers' ability to repay. It is our intention to sell all loans, and it will be up to the new owner to determine the best method of collection on the loan. There may be instances where FDIC will continue with the foreclosure process, but this will be done on a case-by-case basis.

Disposition of my loan: Will my loan be sold?

Your loan may be sold at a future date. If that occurs, you will be notified in advance through written correspondence. If you are concerned about whom your future lender or servicer will be, you may want to independently refinance your loan with another lender.

Prepayment Penalties: I refinance with another lender, will my pre-payment penalty be waived?

Any pre-payment penalty will be waived as long as FDIC as Receiver for Bank of Leeton has control of the asset, and the borrower obtains refinancing of the outstanding balance on the account with another financial institution.

Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer. All prior contacts remain the same.

Other Real Estate Purchases: I was in the process of negotiating the purchase of real property held by Bank of Leeton. Will my offer still be considered?

The FDIC, as Receiver has hired Prescient, Inc., to handle the management and disposition of real property acquired from the Institution. If you have questions regarding the status of your offer, please feel free to contact Prescient directly as follows:

Prescient Asset Management
2600 Douglas Rd., Suite 800
Coral Gables, FL 33134

Steve Murray
1-786-433-0322 or

Media: I represent a TV/Newspaper/Radio and would like some information.

Please contact the Office of Public Affairs:

Greg Hernandez

Outstanding Checks: What about checks that I have written on my account with Bank of Leeton?

Your checks will clear up to the available balance in your account. You can continue to use your existing checks.

A merchant will not honor my check: What can I do?

A copy of this document or the press release (www.fdic.gov/news/news/press/2010/pr10015.html) can be provided as both documents state all deposits have been transferred to Sunflower Bank, N.A., and it is business as usual. Copies of this press release will be available at the former Bank of Leeton branch. Depositors or merchants can also call the FDIC at 1-800-523-8209 or the former Bank of Leeton branch.

Safe Deposit Boxes: How can I claim the contents of my safe deposit box?

It is business as usual.  You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.

Shareholders: What about my shares of stock?

All shares of Bank of Leeton were owned by its holding company, Bancorp V, Inc., Stilwell, Kansas. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Bancorp V, Inc., please do not contact or file a claim with the Receiver. You may contact Bancorp V, Inc. directly for information as follows:

Bancorp V, Inc.
PO Box 365
Stilwell, KS 66085

Transaction Types: 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.

Unpaid Bills: I did some work for the bank and have not been paid. What should I do?

All claims against Bank of Leeton together with proof of the claims, must be submitted in writing to the Receiver at the following address:

Federal Deposit Insurance Corporation
Receiver: Bank of Leeton
1601 Bryan Street
Dallas, TX 75201
Attention: Claims Agent

Last Updated 08/23/2012 cservicefdicdal@fdic.gov