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Paramount Bank, Farmington Hills, Michigan, was closed today by the Michigan Office of Financial and Insurance 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 Level One Bank, Farmington Hills, Michigan, to assume all of the deposits of Paramount Bank.

The four branches of Paramount Bank will reopen on Monday as branches of Level One Bank. Depositors of Paramount Bank will automatically become depositors of Level One 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 up to applicable limits. Customers of Paramount Bank should continue to use their existing branch until they receive notice from Level One Bank that it has completed systems changes to allow other Level One Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Paramount 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 September 30, 2010, Paramount Bank had approximately $252.7 million in total assets and $213.6 million in total deposits. Level One Bank did not pay the FDIC a premium for the deposits of Paramount Bank. In addition to assuming all of the deposits of the failed bank, Level One Bank agreed to purchase essentially all of the assets.

The FDIC and Level One Bank entered into a loss-share transaction on $233.1 million of Paramount Bank’s assets. Level One 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 1-800-881-7816. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/paramount.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $90.2 million. Compared to other alternatives, Level One Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Paramount Bank is the 150th FDIC-insured institution to fail in the nation this year, and the fifth in Michigan. The last FDIC-insured institution closed in the state was Mainstreet Savings Bank, FSB, Hastings, on July 16, 2010.

First Banking Center, Burlington, Wisconsin, was closed today by the Wisconsin 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 First Michigan Bank, Troy, Michigan, to assume all of the deposits of First Banking Center.

The 17 branches of First Banking Center will reopen during normal business hours beginning Saturday as branches of First Michigan Bank. Depositors of First Banking Center will automatically become depositors of First Michigan 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 up to applicable limits. Customers of First Banking Center should continue to use their existing branch until they receive notice from First Michigan Bank that it has completed systems changes to allow other First Michigan Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First Banking Center 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 September 30, 2010, First Banking Center had approximately $750.7 million in total assets and $664.8 million in total deposits. First Michigan Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of First Banking Center. In addition to assuming all of the deposits of the failed bank, First Michigan Bank agreed to purchase essentially all of the failed bank’s assets.

The FDIC and First Michigan Bank entered into a loss-share transaction on $515.6 million of First Banking Center’s assets. First Michigan 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 1-800-830-3256. The phone number will be operational this evening until 9:00 p.m. Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m. CST; on Sunday from noon to 6:00 p.m. CST; and thereafter from 8:00 a.m. to 8:00 p.m. CST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/firstbanking.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $142.6 million. Compared to other alternatives, First Michigan Bank’s acquisition was the least costly resolution for the FDIC’s DIF. First Banking Center is the 149^th FDIC-insured institution to fail in the nation this year, and the second in Wisconsin. The last FDIC-insured institution closed in the state was Maritime Savings Bank, West Allis, on September 17, 2010.

Allegiance Bank of North America, Bala Cynwyd, Pennsylvania, was closed today by the Secretary of the Pennsylvania Department 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 VIST Bank, Wyomissing, Pennsylvania, to assume all of the deposits of Allegiance Bank of North America.

The five branches of Allegiance Bank of North America will reopen on Monday as branches of VIST Bank. Depositors of Allegiance Bank of North America will automatically become depositors of VIST 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 up to applicable limits. Customers of Allegiance Bank of North America should continue to use their existing branch until they receive notice from VIST Bank that it has completed systems changes to allow other VIST Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Allegiance Bank of North America 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 September 30, 2010, Allegiance Bank of North America had approximately $106.6 million in total assets and $92.0 million in total deposits. VIST Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of Allegiance Bank of North America. In addition to assuming all of the deposits of the Allegiance Bank of North America, VIST Bank agreed to purchase essentially all of the assets.

The FDIC and VIST Bank entered into a loss-share transaction on $86.2 million of Allegiance Bank of North America’s assets. VIST 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 1-800-837-0215. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m. EST; on Sunday from noon to 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/allegbank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.2 million. Compared to other alternatives, VIST Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Allegiance bank of North America is the 148^th FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania. The last FDIC-insured institution closed in the state was Dwelling House Savings and Loan Association, Pittsburgh, on August 14, 2009.

Gulf State Community Bank, Carrabelle, 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 Centennial Bank, Conway, Arkansas, to assume all of the deposits of Gulf State Community Bank.

The five branches of Gulf State Community Bank will reopen during normal business hours beginning Saturday as branches of Centennial Bank. Depositors of Gulf State Community Bank will automatically become depositors of Centennial 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 up to applicable limits. Customers of Gulf State Community Bank should continue to use their existing branch until they receive notice from Centennial Bank that it has completed systems changes to allow other Centennial Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Gulf State Community 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 September 30, 2010, Gulf State Community Bank had approximately $112.1 million in total assets and $112.2 million in total deposits. Centennial Bank did not pay the FDIC a premium to assume all of the deposits of Gulf State Community Bank. In addition to assuming all of the deposits of the failed bank, Centennial Bank agreed to purchase essentially all of the assets.

The FDIC and Centennial Bank entered into a loss-share transaction on $84.4 million of Gulf State Community Bank’s assets. Centennial 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 1-800-774-8035. The phone number will be operational this evening until 9:00 p.m. Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m. EST; on Sunday from noon to 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/gulfstate.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $42.7 million. Compared to other alternatives, Centennial Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Gulf State Community Bank is the 147^th FDIC-insured institution to fail in the nation this year, and the 28^th in Florida. The last FDIC-insured institution closed in the state was Progress Bank of Florida, Tampa, on October 22, 2010.

Tifton Banking Company, Tifton, Georgia and Darby Bank & Trust Co., Vidalia, Georgia, were closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to acquire the banking operations, including all the deposits, of the two failed Georgia-based institutions. The two closed institutions were not affiliated with one another.

The branches of the two closed institutions will reopen as branches of Ameris Bank under their normal business hours, including those with Saturday hours. Depositors will automatically become depositors of Ameris 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 up to the applicable limits. Tifton Banking Company operated one branch in Tifton, Georgia, and Darby Bank & Trust Co. operated seven branches in Georgia.

Customers of the two failed institutions should continue to use their former branches until they receive notice from Ameris Bank that it has completed systems changes to allow other Ameris 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 September 30, 2010, Tifton Banking Company had total assets of $143.7 million and total deposits of $141.6 million, and Darby Bank & Trust Co. had total assets of $654.7 million and total deposits of $587.6 million. Besides assuming all the deposits from the two Georgia institutions, Ameris Bank will purchase virtually all their assets.

The FDIC and Ameris entered into a loss-share transaction on $560.2 million of the failed institutions’ assets. 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 Tifton Banking Company customers, 1-800-822-0412, and for Darby Bank & Trust Co. customers, 1-800-823-5028. The phone numbers will be operational this evening until 9:00 p.m. Eastern Standard Time (EST); on Saturday from 8:00 a.m. to 6:00 p.m. EST; on Sunday from noon until 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST.

Interested parties can also visit the FDIC’s Web site: for Tifton Banking Company, http://www.fdic.gov/bank/individual/failed/tifton.html, and for Darby Bank & Trust Co., http://www.fdic.gov/bank/individual/failed/darbybank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.6 million for Tifton Banking Company, and $136.2 million for Darby Bank & Trust Co. Compared to other alternatives, Ameris Bank’s acquisition of all the deposits of the two institutions was the least costly option for the FDIC’s DIF.

The two closed institutions were the 144th and 145th banks to fail in the nation this year, and the 17th and 18th banks to close in Georgia. Prior to these failures, the last bank closed in the state was The Gordon Bank, Gordon, on October 22, 2010.

Copper Star Bank, Scottsdale, Arizona, was closed today by the Superintendent of the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank National Association, St. Cloud, Minnesota, to assume all of the deposits of Copper Star Bank.

The three branches of Copper Star Bank will reopen on Monday as branches of Stearns Bank N.A. Depositors of Copper Star Bank will automatically become depositors of Stearns 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 up to the applicable limits. Customers of Copper Star Bank should continue to use their existing branch until they receive notice from Stearns Bank N.A. that it has completed systems changes to allow other Stearns Bank N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Copper Star 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 September 30, 2010, Copper Star Bank had approximately $204.0 million in total assets and $190.2 million in total deposits. Stearns Bank N.A. will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Copper Star Bank. In addition to assuming all of the deposits, Stearns Bank N.A. agreed to purchase essentially all of the failed bank’s assets.

The FDIC and Stearns Bank N.A. entered into a loss-share transaction on $165.2 million of Copper Star Bank’s assets. Stearns Bank 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 transaction can call the FDIC toll-free at 1-800-815-0286. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/copperstar.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $43.6 million. Compared to other alternatives, Stearns Bank N.A.’s acquisition was the least costly resolution for the FDIC’s DIF. Copper Star Bank is the 146th FDIC-insured institution to fail in the nation this year, and the fourth in Arizona. The last FDIC-insured institution closed in the state was First Arizona Savings, a F.S.B., Scottsdale, on October 22, 2010.

First Vietnamese American Bank, Westminster, 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 Grandpoint Bank, Los Angeles, California, to assume all of the deposits of First Vietnamese American Bank.

The sole branch of First Vietnamese American Bank will reopen on Saturday as a branch of Grandpoint Bank. Depositors of First Vietnamese American Bank will automatically become depositors of Grandpoint 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 up to applicable limits. Customers of First Vietnamese American Bank should continue to use their existing branch until they receive notice from Grandpoint Bank that it has completed systems changes to allow other Grandpoint Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First Vietnamese American 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 September 30, 2010, First Vietnamese American Bank had approximately $48.0 million in total assets and $47.0 million in total deposits. Grandpoint Bank did not pay the FDIC a premium for the deposits of First Vietnamese American Bank. In addition to assuming all of the deposits of the failed bank, Grandpoint Bank agreed to purchase essentially all of the assets.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-760-3639. 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., Pacific Standard Time (PST); and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/firstvietnamese.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.6 million. Compared to other alternatives, Grandpoint Bank’s acquisition was the least costly resolution for the FDIC’s DIF. First Vietnamese American Bank is the 143rd FDIC-insured institution to fail in the nation this year, and the twelfth in California. The last FDIC-insured institution closed in the state was Western Commercial Bank, Woodland Hills, earlier today.

Pierce Commercial Bank, Tacoma, 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 Heritage Bank, Olympia, Washington, to assume all of the deposits of Pierce Commercial Bank.

The sole branch of Pierce Commercial Bank will reopen on Monday as a branch of Heritage Bank. Depositors of Pierce Commercial Bank will automatically become depositors of Heritage 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 up to applicable limits. Customers of Pierce Commercial Bank should continue to use their existing branch until they receive notice from Heritage Bank that it has completed systems changes to allow other Heritage Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Pierce Commercial 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 September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits. Heritage Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Pierce Commercial Bank. In addition to assuming all of the deposits of the failed bank, Heritage Bank agreed to purchase essentially all of the assets.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-760-3641. 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., Pacific Standard Time (PST); and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/piercecommercial.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $21.3 million. Compared to other alternatives, Heritage Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Pierce Commercial Bank is the 142nd FDIC-insured institution to fail in the nation this year, and the eleventh in Washington. The last FDIC-insured institution closed in the state was Shoreline Bank, Shoreline, on October 1, 2010.

Western Commercial Bank, Woodland Hills, 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 First California Bank, Westlake Village, California, to assume all of the deposits of Western Commercial Bank.

The sole branch of Western Commercial Bank will reopen on Monday as a branch of First California Bank. Depositors of Western Commercial Bank will automatically become depositors of First California 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 up to applicable limits. Customers of Western Commercial Bank should continue to use their existing branch until they receive notice from First California Bank that it has completed systems changes to allow other First California Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Western Commercial 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 September 30, 2010, Western Commercial Bank had approximately $98.6 million in total assets and $101.1 million in total deposits. First California Bank will pay the FDIC a premium of 0.5 percent to assume all of the deposits of Western Commercial Bank. In addition to assuming all of the deposits of the failed bank, First California Bank agreed to purchase essentially all of the assets.

The FDIC and First California Bank entered into a loss-share transaction on $83.9 million of Western Commercial Bank’s assets. First California 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 1-800-405-6318. 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., Pacific Standard Time (PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/westerncommercial_ca.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.2 million. Compared to other alternatives, First California Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Western Commercial Bank is the 141st FDIC-insured institution to fail in the nation this year, and the eleventh in California. The last FDIC-insured institution closed in the state was Los Padres Bank, Solvang, on August 20, 2010.

K Bank, Randallstown, Maryland, was closed today by the Maryland 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 Manufacturers and Traders Trust Company (M&T Bank), Buffalo, New York, to assume all of the deposits of K Bank, except certain brokered deposits. Brokered deposit customers should contact their brokers directly about the status of their accounts.

The seven branches of K Bank will reopen on Saturday as branches of M&T Bank. Depositors of K Bank will automatically become depositors of M&T 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 up to applicable limits. Customers of K Bank should continue to use their existing branch until they receive notice from M&T Bank that it has completed systems changes to allow other M&T Bank branches to process their accounts as well.

This evening and over the weekend, depositors of K 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 September 30, 2010, K Bank had approximately $538.3 million in total assets and $500.1 million in total deposits. M&T Bank did not pay the FDIC a premium for the deposits of K Bank. In addition to assuming all of the deposits of the failed bank, M&T Bank agreed to purchase approximately $410.8 million of the failed bank’s assets. The FDIC will retain the balance of the assets for later disposition.

The FDIC and M&T Bank entered into a loss-share transaction on $289.0 million of K Bank’s assets. M&T 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 1-800-830-4697. 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., Eastern Standard Time (EST); and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/kbank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $198.4 million. Compared to other alternatives, M&T Bank’s acquisition was the least costly resolution for the FDIC’s DIF. K Bank is the 140th FDIC-insured institution to fail in the nation this year, and the fourth in Maryland. The last FDIC-insured institution closed in the state was Ideal Federal Savings Bank, Baltimore, on July 9, 2010.