FDIC announces end to 9 bank receiverships

The Federal Deposit Insurance Corp. (FDIC) has terminated two bank receiverships and plans to end another seven over the next 30 days, according to two notices slated for publication in the March 8 Federal Register.

One of the notices announce the FDIC’s March 1 termination of receiverships for the now-defunct National Bank of Commerce, Berkeley, Ill., and Cooperative Bank of Wilmington, N.C. The FDIC says it has fulfilled all its obligations as receiver and distributed all required dividends.

Seven other bank receiverships are slated for termination within 30 days of the FDIC’s notice. “No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this time frame,” the notice says. The seven banks affected are:

  • Great Basin Bank of Nevada, Elko, Nev., in receivership since April 17, 2009;
  • BankFirst, Sioux Falls, S.D., in receivership since July 17, 2009;
  • Vineyard Bank, N.A., Rancho Cucamonga, Calif., in receivership since July 17, 2009;
  • American United Bank, Lawrenceville, Ga., in receivership since Oct. 23, 2009;
  • Fidelity Bank, Dearborn, Mich., in receivership since March 30, 2012;
  • The Bank of Georgia, Peachtree City, Ga., in receivership since Oct. 2, 2015; and
  • Trust Company Bank, Memphis, Tenn., in receivership since April 29, 2016.

FDIC Notice, Receiverships ended March 1

FDIC Notice, Receiverships Scheduled in 30 days