Valley Community Bank
February 25, 2011
Valley Community Bank of St. Charles, Illinois failed and was closed on Feb. 25, 2011, according to this FDIC Press Release:
Valley Community Bank, St. Charles, 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 State Bank, Mendota, Illinois, to assume all of the deposits of Valley Community Bank.
The five branches of Valley Community Bank will reopen during their normal business hours beginning Saturday, February 26, as branches of First State Bank. Depositors of Valley Community Bank will automatically become depositors of First State 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 Valley Community Bank should continue to use their existing branches until they receive notice from First State Bank that it has completed systems changes to allow other First State Bank branches to process their accounts as well.
This evening and over the weekend, depositors of Valley 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 December 31, 2010, Valley Community Bank had approximately $123.8 million in total assets and $124.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, First State Bank agreed to purchase essentially all of the assets.
Valley Community Bank’s logo:
Read the whole Valley Community Bank press release
Useful Links and Info:
First State Bank Logo:
FDIC.gov Failed Bank Info Page For Valley Community Bank Customers
FDIC Troubled Bank List: Is Your Bank On The List?
February 5, 2011
There are many banks that are getting worried about what people will think about them. The reason for this is because of one list. This list is known as the FDIC troubled bank list. You should make sure that your bank isn’t on this list. Why is this? Here are some reasons that you want to be sure of this.
When you look at this list, there are two different sort of lists. There is the list that says they are in some financial troubles. Some of you might not want to go with them as for the things that you are up against. What do we mean by that? If they are having fianancial issues, you might find that there are some who raise their rates or so much more. That is the one thing that this could mean.
The other thing is that you want to be sure that they are not on the troubled list. This list says that they have some problems. Some of them might be financial situations that they might have. This could be really bad and if a bank goes under, changes might be quite significant to you. That is something you need to make sure of.
As you look at who is on this list, you need to read why they are on there. Some things you might be able to overlook, but there might be other things that you can’t overlook. There are many who have not heard about the banks as the banks haven’t given any information to their customers. They won’t give any information as they don’t want to lose any.
However, the FDIC feels that you have a right to know about this. That is why they created this list. We know it’s hard going about and finding a new bank, but for some of you, this might be the best thing you do for yourself.
This is a bit about what this list is. You now understand how just slight things that worry the FDIC could be trivial to you. Rates could increase, they could apply charges that you weren’t made aware of and so much more. Many have closed and left some clients stranded. Be sure to see if your bank is on this list to make sure you are kept in the loop.
Bank Ratings List – How To Find Out How Safe Your Bank Is
February 2, 2011
Keeping money in the banks is the best way to ensure that your money is really safe. Bank Ratings List – How to Find Out How Safe Your Bank Is, however, with cases of banking institution failures becoming too common the safety becomes questionable in particular cases. The breakdown provides you with information of how certain banks similar to the one you use are fairing on at any given time.
There is never an advance warning from the FDIC about the failing performances of any banking institution. You may only realize this when the institution is being taken over. You need to find the information regarding the liquidity, asset quality and profitability from reliable sources.
As much as there is little cause of worry for over the money if the banking institution is insured with FDIC, you always need to know what is happening with any banker. That is when the banking ratings list becomes very handy.
All of the information which you are provided with, these are able to provide you with information in regards to the business models of your banker, risk exposure when dealing with the banks, the banks strengths and weaknesses at any given time among many other vital information.
In this way, you can always stay ahead of things to avoid any inconveniences which may be caused to you when a banker experiences any circumstances that may lead to failure. The ratings will always keep you in control of personal finances at any one given time.
You need to know the performance of the institution you are using or are about to use. The list will always provide you with just such information to brace you with full information on aspects as credit reports of the banks. These can be found online to give you all necessary advance warning for some peace of mind with the banks you are using.