Whidbey Island Bank, Coupeville, Washington, Assumes All of the Deposits of North County Bank, Arlington, Washington

North County Bank, Arlington, Washington, was closed today by the Washington 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 Whidbey Island Bank, Coupeville, Washington, to assume all of the deposits of North County Bank.

The four branches of North County Bank will reopen on Monday as branches of Whidbey Island Bank. Depositors of North County Bank will automatically become depositors of Whidbey Island 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 North County Bank should continue to use their existing branch until they receive notice from Whidbey Island Bank that it has completed systems changes to allow other Whidbey Island Bank branches to process their accounts as well.

This evening and over the weekend, depositors of North County 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, North County Bank had approximately $288.8 million in total assets and $276.1 million in total deposits. Whidbey Island Bank will pay the FDIC a premium of 2.0 percent to assume all of the deposits of North County Bank. In addition to assuming all of the deposits of the failed bank, Whidbey Island Bank agreed to purchase essentially all of the assets.

The FDIC and Whidbey Island Bank entered into a loss-share transaction on $221.9 million of North County Bank’s assets. Whidbey Island 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 1-800-508-8289. 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/northcounty.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $72.8 million. Compared to other alternatives, Whidbey Island Bank’s acquisition was the least costly resolution for the FDIC’s DIF. North County Bank is the 127th FDIC-insured institution to fail in the nation this year, and the ninth in Washington. The last FDIC-insured institution closed in the state was The Cowlitz Bank, Longview, on July 30, 2010.

First Southern Bank, Boca Raton, Florida, Assumes All of the Deposits of Haven Trust Bank Florida, Ponte Vedra Beach, Florida

Haven Trust Bank Florida, Ponte Vedra Beach, Florida, was closed today by the Florida Office of Financial 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 First Southern Bank, Boca Raton, Florida, to assume all of the deposits of Haven Trust Bank Florida.

The two branches of Haven Trust Bank Florida will reopen during their normal business hours beginning Saturday as branches of First Southern Bank. Depositors of Haven Trust Bank Florida will automatically become depositors of First Southern 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 Haven Trust Bank Florida should continue to use their existing branch until they receive notice from First Southern Bank that it has completed systems changes to allow other First Southern Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Haven Trust Bank Florida 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, Haven Trust Bank Florida had approximately $148.6 million in total assets and $133.6 million in total deposits. First Southern Bank did not pay the FDIC a premium for the deposits of Haven Trust Bank Florida. In addition to assuming all of the deposits of the failed bank, First Southern Bank agreed to purchase essentially all of the assets.

The FDIC and First Southern Bank entered into a loss-share transaction on $127.3 million of Haven Trust Bank Florida’s assets. First Southern 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 1-800-430-6165. 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/haventrust_fl.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.9 million. Compared to other alternatives, First Southern Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Haven Trust Bank Florida is the 126th FDIC-insured institution to fail in the nation this year, and the twenty-fourth in Florida. The last FDIC-insured institution closed in the state was Horizon Bank, Bradenton, on September 10, 2010.

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

• 7 YR– 2.35% Rate– This pays monthly interest, no fee.

• 9 YR–2.60% Rate– This pays monthly interest, 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.

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

• 1.20% – This rate offers a monthly check and requires a referral fee.

• 1.00% – This rate offers a monthly check and 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.

Today’s best 2 year term jumbo CD rates for institutional investors are:

• 1.65% – This rate offers monthly interest and requires a referral fee.

• 1.50% – This rate offers monthly interest and requires a referral fee.

• 1.10% – This rate has monthly interest and 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.

Today’s best 3 year term jumbo CD rates for institutional investors are:

• 1.85% – This rate offers monthly interest and requires a referral fee.

• 1.75% – This rate offers monthly interest and requires a referral fee.

• 1.35% – This rate offers monthly interest and 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.

Today’s best 4 year term jumbo CD rates for institutional investors are:

• 2.50% – This rate pays monthy interest and requires a referral fee.

• 2.03% – This rate pays quarterly interest and requires a referral fee.

• 1.75%– This rate pays monthly interest and 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.

Today’s best 5 year term jumbo CD rates for institutional investors are:

• 2.50% – This rate pays monthly interest and requires a referral fee.

• 2.37% – This rate pays monthly interest and requires a referral fee.

• 2.25%– This rate pays monthly interest and requires a referral 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.

North Shore Bank, FSB, Brookfield, Wisconsin, Assumes All of the Deposits of Maritime Savings Bank, West Allis, Wisconsin

Maritime Savings Bank, West Allis, Wisconsin, was closed today by 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 North Shore Bank, FSB, Brookfield, Wisconsin, to assume all of the deposits of Maritime Savings Bank.

The nine branches of Maritime Savings Bank will reopen during normal business hours, beginning Saturday as branches of North Shore Bank, FSB. Depositors of Maritime Savings Bank will automatically become depositors of North Shore Bank, FSB. 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 Maritime Savings Bank should continue to use their existing branch until they receive notice from North Shore Bank, FSB that it has completed systems changes to allow other North Shore Bank, FSB branches to process their accounts as well.

This evening and over the weekend, depositors of Maritime Savings 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, Maritime Savings Bank had approximately $350.5 million in total assets and $248.1 million in total deposits. North Shore Bank, FSB did not pay the FDIC a premium to assume all of the deposits of Maritime Savings Bank. In addition to assuming all of the deposits of the failed bank, North Shore Bank, FSB agreed to purchase approximately $177.6 million of the failed bank’s assets.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-355-0650. 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/maritimesavings.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $83.6 million. Compared to other alternatives, North Shore Bank, FSB’s acquisition was the least costly resolution for the FDIC’s DIF. Maritime Savings Bank is the 125th FDIC-insured institution to fail in the nation this year, and the first in Wisconsin. The last FDIC-insured institution closed in the state was Bank of Elmwood, Racine, on October 23, 2009.

Community & Southern Bank, Carrollton, Georgia, Assumes All of the Deposits of Three Georgia Institutions
Bank of Ellijay, Ellijay, First Commerce Community Bank, Douglasville, and The Peoples Bank, Winder

Community & Southern Bank, Carrollton, Georgia, acquired the banking operations, including all the deposits, of three Georgia-based institutions. The Bank of Ellijay, Ellijay, First Commerce Community Bank, Douglasville, and The Peoples Bank, Winder, were closed by the Georgia Department of Banking and Finance, and the FDIC was named receiver for each institution. The failed institutions were not affiliated with one another. To protect depositors, the Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with Community & Southern Bank.

All of the branches of the three closed institutions will reopen as branches of Community & Southern Bank under their normal business hours, including those with Saturday hours. Depositors will automatically become depositors of Community & Southern Bank. 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. Bank of Ellijay has two branches (including the branch called Bank of Canton, which is a division of the Bank of Ellijay) in Georgia, First Commerce Community Bank has two branches in Georgia, and The Peoples Bank has 14 branches in Georgia. Customers of the failed institutions should continue to use their former branches until they receive notice from Community & Southern Bank that it has completed systems changes to allow other Community & Southern Bank branches to process their accounts as well. Over the weekend, depositors can access their money by writing checks or using ATM or debit cards. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Bank of Ellijay had total assets of $168.8 million and total deposits of $160.7 million; First Commerce Community Bank had total assets of $248.2 million and total deposits of $242.8 million; and The Peoples Bank had total assets of $447.2 million and total deposits of $398.2 million. Community & Southern Bank will pay the FDIC a premium of 1.0 percent to acquire all of the deposits of the Bank of Ellijay and First Commerce Community Bank. They also will pay the FDIC a premium of 1.25 percent to acquire all of the deposits of The Peoples Bank. Besides assuming all the deposits from the three Georgia institutions, Community & Southern Bank will purchase virtually all the failed banks’ assets.

The FDIC and Community & Southern Bank entered into a loss-share transaction on approximately $602.5 million of the failed institutions’ assets. Community & Southern Bank and the FDIC 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 Bank of Ellijay customers, 1-800-930-1849; for First Commerce Community Bank customers, 1-800-234-9027; and for The Peoples Bank customers, 1-800-357-7599. The phone numbers will be operational this evening until 9:00 p.m. EDT; on Saturday from 8:00 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 can also visit the FDIC’s Web site: for Bank of Ellijay, http://www.fdic.gov/bank/individual/failed/ellijay.html; for First Commerce Community Bank, http://www.fdic.gov/bank/individual/failed/firstcommerce_ga.html; and for The Peoples Bank, http://www.fdic.gov/bank/individual/failed/peoplesbank_ga.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Bank of Ellijay will be $55.2 million; for First Commerce Community Bank, $71.4 million; and for The Peoples Bank, $98.9 million. Community & Southern Bank’s acquisition of all the deposits the three institutions was the least costly option for the FDIC’s DIF compared to alternatives. These failures bring the total number of failures to 123 for the nation and to 14 for Georgia. Prior to these failures, the last bank closed in the state was Northwest Bank & Trust, Acworth, on July 31, 2010.