FDIC Receivership Report: Claim Insured Deposits at Failed Banks

Dwelling House Savings and Loan Association

Pennsylvania Unclaimed Money

Pennsylvania unclaimed funds



PA unclaimed property - lost bank account

August 14, 2009:  Dwelling House Savings and Loan Association, Pittsburgh, PA was closed by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation was named Receiver.

As of March 31, 2009, Dwelling House Savings and Loan Association had total assets of $13.4 million and total deposits of approximately $13.8 million.

The FDIC entered into a purchase and assumption agreement with PNC Bank, National Association, Pittsburgh, Pennsylvania, to assume all of the deposits of Dwelling House Savings and Loan Association.

All deposit accounts have been transferred to PNC Bank and are available immediately. On Monday, August 17, 2009, the former Dwelling House Savings and Loan Association location reopened as a branch of PNC Bank.

Transferred deposits will be separately insured from any accounts you may already have at PNC Bank, N.A. for six months after the failure of Dwelling House Savings and Loan Association.

All interest accrued through Friday, August 14, 2009, will be paid at your same rate; however PNC Bank will be reviewing rates.

PNC Bank, National Association
249 Fifth Avenue, 1 Pnc Plaza
Pittsburgh, PA 15222
http://www.pnc.com
888-PNC-BANK

In addition to assuming all of the deposits of the failed bank, PNC Bank, National Association agreed to purchase approximately $3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.8 million.

For additional information and assistance contact the FDIC at: 1-800-760-3639; or go to: http://www.fdic.gov/bank/individual/failed/dwelling.html

2009 FDIC Insured Failed Banks
 
 
 
 
Dwelling House
Savings and Loan Association

501 Herron Ave
Pittsburgh, PA 15219
http://www.dwellinghouse.com
 

Established on 1979-12-31 as
Dwelling House Savings and Loan Association
 

Assets: $13 million
Deposits: $14 million
 
 
Cost to FDIC: $7 million

 

 
 

History: Established on 1979-12-31 as Dwelling House Savings and Loan Association

Consumer Alert

Unclaimed FDIC Insured Deposits

Note: There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes ...

 

Be advised that not every depositor with funds 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.

Beneficial owners of fiduciary accounts, including Uniform Transfers To Minors accounts, escrow accounts, Interest on Lawyer Trust Accounts (IOLTA), and deposit accounts obtained through a broker (Brokered Accounts) will not be contacted by the FDIC.

This is because these accounts are on the failed bank's records in the name of the fiduciary, not the individual owner. The FDIC does not have access to ownership information, and therefore will not contact individual depositors. It is the responsibility of the broker or other fiduciary to initiate a claim.

In addition, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage, after a period of time. If an individual already has accounts at a successor institution, perhaps unknowingly in the case of brokered deposits, the insurance limit may be exceeded and funds could be lost in a subsequent receivership.

Finally, in the worst case scenario, 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.

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 or safe deposit box go to: Unclaimed Money Search


Creditor Claims: Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. Shortly after the failure, the FDIC sends notices directly to all known service providers to explain the claim filing process. If you provided a service for Dwelling House Savings and Loan Association and have not received a notice, please contact:

Federal Deposit Insurance Corporation
Receiver: Dwelling House Savings and Loan Association
1601 Bryan Street
Dallas, TX  75201
Attention: Claim Agent
1-800-568-9161



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