Today’s best special term jumbo CD rates for institutional investors are:

• 18 Mo-23 Mo- 1.20% Rate –pays monthly interest. You can choose any maturity date from 18 month to 23 month.

All CD rates quoted are subject to change without notice, please contact Catherine on 800-323-8637 (800-32Funds) for more information. All jumbo CD rates are FDIC insured by the issuing institution.

Rabobank, National Association, El Centro, California, Acquires All the Deposits of Two Banks in California
Butte Community Bank, Chico, and Pacific State Bank, Stockton

Butte Community Bank, Chico, California, and Pacific State Bank, Stockton, California, were closed today by the California Department of Financial Institutions, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the two banks. To protect depositors, the FDIC entered into purchase and assumption agreements with Rabobank, National Association, El Centro, California, to assume all the deposits and essentially all the assets of the two failed banks, which were not affiliated with one another.

Collectively, the failed banks operated 23 branches, which will reopen as branches of Rabobank, National Association under their normal business hours, including those offices with Saturday hours. Butte Community Bank has 14 branches, and Pacific State Bank has nine branches. Depositors will automatically become depositors of Rabobank, National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

Customers of the two failed banks should continue to use their former branches until they receive notice from Rabobank, National Association that it has completed systems changes to allow other Rabobank, National Association branches to process their accounts as well. Over the weekend, depositors can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Butte Community Bank had total assets of $498.8 million and total deposits of $471.3 million; and Pacific State Bank had total assets of $312.1 million and total deposits of $278.8 million. Rabobank, National Association will pay the FDIC a premium of 4.05 percent to assume all of the deposits of Butte Community Bank, but it did not pay the FDIC a premium for the deposits of Pacific State Bank.

The FDIC and Rabobank, National Association entered into loss-share transactions on $425.4 million of Butte Community Bank’s assets; and $249.7 million of Pacific State Bank’s assets. Rabobank, National Association will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transactions can call the FDIC toll free: for Butte Community Bank customers, 1-800-450-5417; and for Pacific State Bank customers, 1-800-640-2693. The phone numbers will be operational this evening until 9:00 p.m. Pacific Daylight Time; on Saturday from 9:00 a.m. to 6:00 p.m. PDT; on Sunday from noon until 6:00 p.m. PDT; and thereafter from 8:00 a.m. to 8:00 p.m. PDT.

Interested parties also can visit the FDIC’s Web sites: for Butte Community Bank, http://www.fdic.gov/bank/individual/failed/butte.html; and for Pacific State Bank, http://www.fdic.gov/bank/individual/failed/pacificbk.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Butte Community Bank will be $17.4 million; and for Pacific State Bank, $32.6 million. Compared to other alternatives, Rabobank, National Association’s acquisition was the least costly resolution for the FDIC’s DIF.

These closings bring the total for the year to 116 banks in the nation, and the seventh and eighth in California. Prior to these failures, the last FDIC-insured bank closed in the state was Granite Community Bank, National Association, Granite Bay, on May 28, 2010.

Pacific Western Bank, San Diego, California, Assumes All of the Deposits of Los Padres Bank, Solvang, California

Los Padres Bank, Solvang, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Western Bank, San Diego, California, to assume all of the deposits of Los Padres Bank.

The 14 branches of Los Padres Bank will reopen on Monday as branches of Pacific Western Bank. Depositors of Los Padres Bank will automatically become depositors of Pacific Western Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Los Padres Bank should continue to use their existing branch until they receive notice from Pacific Western Bank that it has completed systems changes to allow other Pacific Western Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Los Padres Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Los Padres Bank had approximately $870.4 million in total assets and $770.7 million in total deposits. Pacific Western Bank will pay the FDIC a premium of 0.45 percent to assume all of the deposits of Los Padres Bank. In addition to assuming all of the deposits of the failed bank, Pacific Western Bank agreed to purchase essentially all of the assets.

The FDIC and Pacific Western Bank entered into a loss-share transaction on $579.8 million of Los Padres Bank’s assets. Pacific Western Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-640-2751. The phone number will be operational this evening until 9:00 p.m., Pacific Daylight Time (PDT); on Saturday from 9:00 a.m. to 6:00 p.m., PDT; on Sunday from noon to 6:00 p.m., PDT; and thereafter from 8:00 a.m. to 8:00 p.m., PDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/lospadres.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $8.7 million. Compared to other alternatives, Pacific Western Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Los Padres Bank is the 117th FDIC-insured institution to fail in the nation this year, and the eighth in California. The last FDIC-insured institution closed in the state was Butte Community Bank, Chico, earlier today.

Westamerica Bank, San Rafael, California, Assumes All of the Deposits of Sonoma Valley Bank, Sonoma, California

Sonoma Valley Bank, Sonoma, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Westamerica Bank, San Rafael, California, to assume all of the deposits of Sonoma Valley Bank.

The three branches of Sonoma Valley Bank will reopen on Saturday as branches of Westamerica Bank. Depositors of Sonoma Valley Bank will automatically become depositors of Westamerica Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Sonoma Valley Bank should continue to use their existing branch until they receive notice from Westamerica Bank that it has completed systems changes to allow other Westamerica Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Sonoma Valley Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Sonoma Valley Bank had approximately $337.1 million in total assets and $255.5 million in total deposits. Westamerica Bank will pay the FDIC a premium of 2.0 percent to assume all of the deposits of Sonoma Valley Bank. In addition to assuming all of the deposits of the failed bank, Westamerica Bank agreed to purchase essentially all of the assets.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-913-3062. The phone number will be operational this evening until 9:00 p.m., Pacific Daylight Time (PDT); on Saturday from 9:00 a.m. to 6:00 p.m., PDT; on Sunday from noon to 6:00 p.m., PDT; and thereafter from 8:00 a.m. to 8:00 p.m., PDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/sonoma.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.1 million. Compared to other alternatives, Westamerica Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Sonoma Valley Bank is the 118th FDIC-insured institution to fail in the nation this year, and the ninth in California. The last FDIC-insured institution closed in the state was Los Padres Bank, Solvang, earlier today.

Urban Partnership Bank, Chicago, Illinois, Assumes All of the Deposits of ShoreBank, Chicago, Illinois

ShoreBank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Urban Partnership Bank, Chicago, Illinois, a newly-chartered institution, to assume all of the deposits of ShoreBank.

The 15 branches of ShoreBank will reopen as branches of Urban Partnership Bank, including those in Detroit, Michigan, and Cleveland, Ohio, under their normal business hours, including those offices with Saturday hours. Depositors of ShoreBank will automatically become depositors of Urban Partnership Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of ShoreBank should continue to use their existing branch until they receive notice from Urban Partnership Bank that it has completed systems changes.

This evening and over the weekend, depositors of ShoreBank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, ShoreBank had approximately $2.16 billion in total assets and $1.54 billion in total deposits. Urban Partnership Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of ShoreBank. In addition to assuming all of the deposits of the failed bank, Urban Partnership Bank agreed to purchase essentially all of the assets except for the marketable securities and fixed assets.

The FDIC and Urban Partnership Bank entered into a loss-share transaction on $1.41 billion of ShoreBank’s assets. Urban Partnership Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-523-8503. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/shorebank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $367.7 million. Compared to other alternatives, Urban Partnership Bank’s acquisition was the least costly resolution for the FDIC’s DIF. ShoreBank is the 114th FDIC-insured institution to fail in the nation this year, and the fifteenth in Illinois. The last FDIC-insured institution closed in the state was Palos Bank and Trust Company, Palos Heights, on August 13, 2010.

Attachment:
Fact Sheet – PDF (PDF Help)

CenterState Bank of Florida, National Association, Winter Haven, Florida, Acquires All the Deposits of Two Banks in Florida
Community National Bank at Bartow, Bartow, and Independent National Bank, Ocala

Community National Bank At Bartow, Bartow, Florida, and Independent National Bank, Ocala, Florida, were closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the two banks. To protect depositors, the FDIC entered into purchase and assumption agreements with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all the deposits and essentially all the assets of the two failed banks, which were not affiliated with one another.

Collectively, the failed banks operated five branches, which will reopen as branches of CenterState Bank of Florida, N.A. under their normal business hours, including those offices with Saturday hours. Community National Bank At Bartow has one branch, and Independent National Bank has four branches. Depositors will automatically become depositors of CenterState Bank of Florida, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

Customers of the two failed banks should continue to use their former branches until they receive notice from CenterState Bank of Florida, N.A. that it has completed systems changes to allow other CenterState Bank of Florida, N.A. branches to process their accounts as well. Over the weekend, depositors can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Community National Bank At Bartow had total assets of $67.9 million and total deposits of $63.7 million; and Independent National Bank had total assets of $156.2 million and total deposits of $141.9 million. CenterState Bank of Florida, N.A. did not pay the FDIC a premium for the deposits of the two failed banks.

The FDIC and CenterState Bank of Florida, N.A. entered into loss-share transactions on $51.9 million of Community National Bank At Bartow’s assets; and $119.7 million of Independent National Bank’s assets. CenterState Bank of Florida, N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transactions can call the FDIC toll free: for Community National Bank At Bartow customers, 1-800-450-5668; and for Independent National Bank customers, 1-800-913-3058. The phone numbers will be operational this evening until 9:00 p.m. Eastern Daylight Time; on Saturday from 9:00 a.m. to 6:00 p.m. EDT; on Sunday from noon until 6:00 p.m. EDT; and thereafter from 8:00 a.m. to 8:00 p.m. EDT.

Interested parties also can visit the FDIC’s Web sites: for Community National Bank At Bartow, http://www.fdic.gov/bank/individual/failed/cnbbartow.html and for Independent National Bank, http://www.fdic.gov/bank/individual/failed/inatbank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Community National Bank At Bartow will be $10.3 million; and for Independent National Bank, $23.2 million. Compared to other alternatives, CenterState Bank of Florida, N.A.’s acquisition was the least costly resolution for the FDIC’s DIF.

These closings bring the total for the year to 112 banks in the nation, and the twenty-first and twenty-second in Florida. Prior to these failures, the last FDIC-insured institution closed in the state was Bayside Savings Bank, Port Saint Joe, on July 30, 2010.

River Community Bank, National Association, Martinsville, Virginia, Assumes All of the Deposits of Imperial Savings and Loan Association, Martinsville, Virginia

Imperial Savings and Loan Association, Martinsville, Virginia, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with River Community Bank, National Association, Martinsville, Virginia, to assume all of the deposits of Imperial Savings and Loan Association.

The sole branch of Imperial Savings and Loan Association will reopen on Monday as a branch of River Community Bank, N.A. Depositors of Imperial Savings and Loan Association will automatically become depositors of River Community Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Imperial Savings and Loan Association should continue to use their existing branch until they receive notice from River Community Bank, N.A. that it has completed systems changes to allow other River Community Bank, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Imperial Savings and Loan Association can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Imperial Savings and Loan Association had approximately $9.4 million in total assets and $10.1 million in total deposits. River Community Bank, N.A. did not pay the FDIC a premium for the deposits of Imperial Savings and Loan Association. In addition to assuming all of the deposits of the failed bank, River Community Bank, N.A. agreed to purchase essentially all of the assets.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-517-1843. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/imperialsvgs.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.5 million. Compared to other alternatives, River Community Bank, N.A.’s acquisition was the least costly resolution for the FDIC’s DIF. Imperial Savings and Loan Association is the 113th FDIC-insured institution to fail in the nation this year, and the first in Virginia. The last FDIC-insured institution closed in the state was Greater Atlantic Bank, Reston, on December 4, 2009.

First Midwest Bank, Itasca, Illinois, Assumes All of the Deposits of Palos Bank and Trust Company, Palos Heights, Illinois

Palos Bank and Trust Company, Palos Heights, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois, to assume all of the deposits of Palos Bank and Trust Company.

The five branches of Palos Bank and Trust Company will reopen on Saturday as branches of First Midwest Bank. Depositors of Palos Bank and Trust Company will automatically become depositors of First Midwest Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Palos Bank and Trust Company should continue to use their existing branch until they receive notice from First Midwest Bank that it has completed systems changes to allow other First Midwest Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Palos Bank and Trust Company can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Palos Bank and Trust Company had approximately $493.4 million in total assets and $467.8 million in total deposits. First Midwest Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Palos Bank and Trust Company. In addition to assuming all of the deposits of the failed bank, First Midwest Bank agreed to purchase essentially all of the assets.

The FDIC and First Midwest Bank entered into a loss-share transaction on $343.8 million of Palos Bank and Trust Company’s assets. First Midwest Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-913-3053. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/palosbank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $72.0 million. Compared to other alternatives, First Midwest Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Palos Bank and Trust Company is the 110^th FDIC-insured institution to fail in the nation this year, and the fourteenth in Illinois. The last FDIC-insured institution closed in the state was Ravenswood Bank, Chicago, on August 6, 2010.

Today’s best special term jumbo CD rates for institutional investors are:

• 1.65% Rate 35 Mo Term– This rate has no fee.

• 2.45% Annual Yield/ 2.55% Simple Yield % 60 Mo Term– This rate has no fee and pays interest at maturity.

All CD rates quoted are subject to change without notice, please contact Catherine on 800-323-8637 (800-32Funds) for more information. All jumbo CD rates are FDIC insured by the issuing institution.

Today’s best 1 year term jumbo CD rates for institutional investors are:

• 1.40% – This rate requires a referral fee.
• 1.00% – This rate has no fee.

All CD rates quoted are subject to change without notice, please contact Catherine on 800-323-8637 (800-32Funds) for more information. All jumbo CD rates are FDIC insured by the issuing institution.