On Friday, June 4, 2010, TierOne Bank was closed by the Office of Thrift Supervision. The FDIC was named Receiver. Great Western Bank, Sioux Falls, SD acquired all deposit accounts.
The FDIC as Receiver for TierOne Bank, Lincoln, NE has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on September 30, 2021 and has made all dividend distributions required by law.
Effective February 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
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ACQUIRING INSTITUTION: Great Western Bank
About Great Western Bank
All deposit accounts, including brokered deposits, were transferred to Great Western Bank, Sioux Falls, SD ("assuming institution"). Former TierOne Bank locations reopened as branches of Great Western Bank.
Your transferred deposits were separately insured from any accounts you may have already had at Great Western Bank for at least six months after the failure of TierOne Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Great Western Bank as long as the deposits are not pledged as collateral for loans.
Contacting Great Western Bank
You can contact Great Western Bank:
Great Western Bank
225 S. Main Ave.
Sioux Falls, SD 57104
Great Western Bank (www.greatwesternbank.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank