FDIC Federal Register Citations

Gordon Waller
President / CEO
First State Bank & Trust Company, Inc.
100 West Third Street
P.O. Box 18
Caruthersville, MO 63830-0018
Phone 573-333-1700 Ext. 1105
Fax 573-333-3131

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I am writing to express my concern and aggravation regarding the fact that the Debt Guarantee Program is subject to an assessment of 75bp annualized. This is a decision that will take much consideration for us to make because of the enormous cost for the program. As CFO, I am convinced that the fee is too high relative to current market rates, including Fed Funds. If banks have to pay 75bp to the FDIC to be guaranteed, we will witness additional banks not being able to survive. It is critical that the program fees be reduced!

Gordon Waller