Information for FirsTier Bank, Louisville, CO
- Introduction
- Press Release
- Is My Account Fully Insured?
- Deposit Insurance National Bank (DINB)
- Question and Answer Guide
- Banking Services
- Loan Customers
- Possible Claims Against the Failed Institution
- Priority of Claims
- Dividend Information
- Brokered Deposits
- Purchase and Assumption Agreement - PDF
- Balance Sheet Summary
Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.
I. Introduction
On Friday, January 28, 2011, FirsTier Bank, Louisville, CO was closed by the State Bank Commissioner, by order of the Banking Board of the Colorado Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information, which should answer many of your questions.
II. Press Release
The FDIC has issued a press release (PR-017-2011) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact Greg Hernandez at 1-202-898-6984.
III. Is My Account Fully Insured?
Simply enter your account number in the search screen. You will receive one of two messages: "Your account is fully insured," or "The FDIC requires additional information do determine your insurance coverage." If your account is fully insured, you do not need to contact FDIC. If you receive the message requesting additional information, a link will appear that provides contact information.
IV. Deposit Insurance National Bank (DINB)
To protect the insured depositors, the FDIC created the DINB of Louisville, a new depository institution chartered by the OTS and insured by the FDIC to take over the operations of FirsTier Bank. The new institution will remain open until Monday, February 28, 2011, to allow depositors access to their insured funds and time to move accounts to other insured institutions.
Checks for insured CDs and insured IRAs will be sent to your mailing address on record with FirsTier Bank. These will be mailed no later than Monday, January 31, 2011 and you should receive these checks by the end of the week.
Principal and interest on insured accounts, through Friday, January 28, 2011, are fully insured by the FDIC, up to the insurance limit of $250,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $250,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.
All interest bearing accounts that exceed the $250,000 insurance limit and/or all interest bearing accounts that appear to be related and exceed this limit are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits, you should call the FDIC Call Center to arrange for a telephone interview with a Claims Agent at (888) 206-4662. The Claim Agent may direct you to download and submit a particular form that will assist in expediting the processing of your claim.
List of Affidavits, Declarations, and Forms available for download
FDIC Call Center
Toll free number (888) 206-4662
Hours of Operation - Eastern Time
Friday, January 28, 2011: Until 9:00 p.m.
Saturday, January 29, 2010: 9:00 a.m. - 6:00 p.m.
Sunday, January 30, 2010: Noon - 6:00 p.m.
Thereafter: 8:00 a.m. - 8:00 p.m.
If it is determined that you have uninsured funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate entitles you to share proportionately in any funds recovered through the disposal of the assets of FirsTier Bank. This means that you may eventually recover some of your uninsured funds.
To find out more about FDIC Deposit Insurance:
- Visit EDIE the FDIC's Electronic Deposit Insurance Estimator
- View the FDIC Deposit Insurance Coverage Video
VI. Banking Services
The ATM will be unavailable for a short period of time on Friday for processing. However, it will be operational shortly thereafter and available as usual until Friday, February 11, 2011.
Online services and Bill Pay will be unavailable through the weekend, will resume temporarily on Monday, January 31, 2011, and will be discontinued Friday, February 4, 2011.
Your checks will be processed as usual through Monday, February 28, 2011. All outstanding checks that clear prior to Monday, February 28, 2011 will be paid against your available insured balance(s) as if no change had occurred. If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.
All interest accrued through Friday, January 28, 2011 will be paid at your same rate.
Automatic direct deposit(s) will continue until close of business Tuesday, February 22, 2011.
VII. Loan Customers
If you had a loan with FirsTier Bank, you should continue to make your payments as usual. The terms of your loan will not change, because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan, please contact your loan officer.
Please see A Borrower's Guide to an FDIC Insured Bank Failure for additional information.
VIII. Possible Claims Against the Failed Institution
Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. If you or your company provided a service or product, leased space, furniture, or equipment to FirsTier Bank after Friday, January 28, 2011 and have not been paid, you do not have a claim against FirsTier Bank. Please follow your normal billing procedures by providing an invoice as instructed.
If you or your company provided a service or product, leased space, furniture, or equipment to FirsTier Bank prior to Friday, January 28, 2011 and have not been paid, you may be entitled to a claim against the bank. If you provided a product to or a service for FirsTier Bank prior to the bank's failure for which you have not been paid and you have not received communication, please contact:
FDIC as Receiver for FirsTier Bank
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent
(888) 206-4662
Please note: There are time limits for filing a claim, your claim must be filed on or before 05/05/2011.
All shares of bank stock were held by the holding company, FirsTier Bancorp, Broomfield, CO owns. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of the holding company, please do not contact or file a claim with the Receiver. Your must contact the holding company directly for more information.
FirsTier Bancorp
8001 Arista Place, Suite 500
Broomfield, CO 80021
IX. Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
X. Dividend Information
Dividend History on FirsTier Bank
Dividend Information on Failed Financial Institutions
XI. Brokered Deposits
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution.