2008 FDIC Insured Failed Banks
August 22, 2008: The Columbian Bank and Trust Company, Topeka, KS was closed by the Kansas Office of the State Bank Commissioner. The Federal Deposit Insurance Corporation (FDIC) was named Receiver.
As of June 30, 2008, The Columbian Bank and Trust Company had assets of $752 million and total deposits of $622 million.
Successor Bank: All insured, non-brokered deposit accounts were transferred to Citizens Bank & Trust, Chillicothe, Missouri.
Citizens Bank & Trust
History: Established in 1978 as The Columbian Trust Company
1983 Changed name to The Columbian National Bank And Trust Company
1991 Acquired Topeka Bank And Trust Company
1996 Changed name to The Columbian Bank And Trust Company
2006 Acquired Keystone Bank
2008 Merged with government financial assistance into Citizens Bank and Trust Company
There were approximately $46 million in uninsured deposits held in approximately 610 accounts that potentially exceeded the insurance limits.
► Depositors must establish contact or the successor bank or the FDIC to reclaim their deposits. ► Not every depositor in a failed bank will receive notification from the FDIC, and there are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes. By law, accounts which go unclaimed for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. ► Additionally, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage.
► It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account.
► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Account Search
Bank and Trust Company
701 Kansas Avenue
Topeka, KS 66603
Established in 1978 as
The Columbian Trust Company
|Cost to FDIC: $60 million|