FDIC Insured Failed Banks: Integrity Bank of Georgia - Claim Your Savings Account, CD or Safe Deposit Box

	August 29, 2008: Integrity Bank, Alpharetta, Georgia, was closed today by the Georgia Department of Banking and Finance. The Federal Deposit Insurance Corporation was named Receiver. Integrity Bank had $1.1 billion in assets and $974.0 million in total deposits as of June 30, 2008. All deposit accounts have been transferred to Regions Bank of Birmingham, AL and are available as usual. Regions agreed to pay a total premium of 1.012 percent for the failed bank's deposits. Branch offices re-opened on Tuesday, September 2nd, at the five former Integrity Bank main office and branch locations. All depositors of Integrity Bank, including those with deposits in excess of the FDIC's insurance limits, will automatically become depositors of Regions Bank for the full amount of their deposits. Transferred deposits will be separately insured from any accounts you may already have at Regions Bank for six months after the failure of Integrity Bank. Regions Bank 1900 Fifth Avenue North Birmingham, AL 35203 800-734-4667 http://www.regions.com In addition to the premium paid on deposits, Regions agreed to purchase approximately $34.4 million of Integrity Bank's assets, consisting of cash and cash equivalents. The FDIC retained the remaining assets for later disposition. The FDIC estimates that the cost to its Deposit Insurance Fund will be between $250 million and $350 million. Expected losses to uninsured depositors were fully covered by the premium paid for the failed bank's franchise. For additional information and assistance contact the FDIC at: 800-568-9161, Regions Bank at: 800-592-1958 or go to http://www.fdic.gov/bank/individual/failed/integrity.html
2008 FDIC Insured Failed Banks




Integrity Bank 11140 State Bridge Road Alpharetta, GA 30022 http://www.myintegritybank.com
Established in 2000


Assets: $1.1 billion
Deposits: $974 million

Cost to FDIC: $250-350 million

Insured deposits: All depositors of Integrity Bank, including those with deposits in excess of the FDIC's insurance limits, will automatically become depositors of Regions Bank for the full amount of their deposits.

Uninsured deposits: Expected losses to uninsured depositors were fully covered by the premium paid for the failed bank's franchise.

Interest: All interest accrued through Friday, August 29, was paid at your pre-existing rate. Regions Bank will be reviewing rates and will provide further information.

Checks: Your checks will be processed as usual. All outstanding checks will be paid against your available insured balances as if no change had occurred. Regions Bank will contact you regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, contact Regions Bank, Customer Service Department, at 1-800-592-1958.

Automated Deposits: Your automatic direct deposits and/or automatic withdrawals will be transferred automatically to Regions Bank. If you have any questions contact a representative of Regions Bank at 1-800-592-1958.

Loans: If you had a loan with Integrity Bank, you should continue to make your payments as usual. If you have further questions regarding an existing loan you may call 1-800-523-0640.

Services: The Automated Teller Machines (ATM) and online services will remain available. As of September 2, 2008 you may continue to use the services to which you previously had access, such as, safe deposit boxes, night deposit boxes, wire services, etc.

Creditors: If you provided a service for Integrity Bank, and have not received a notice from FDIC contact:

Federal Deposit Insurance Corporation
Receiver: Integrity Bank
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas 75201
800-568-9161

Consumer Alert

Unclaimed FDIC Insured Deposits

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

If an insured depositor fails to make a claim an insured or transferred deposit within 18 months after the FDIC initiates the payment of insured deposits, the transferee institution must refund the deposit to the FDIC, and all rights of the depositor against the transferee institution are barred.

The FDIC then remits the insured deposit to the custody of the unclaimed property administrator in the account owner's home state, unless that state declines to accept custody. Upon delivery, the FDIC is deemed to have made payment to the depositor, and all rights of the depositor against the FDIC are barred.

Most states allow claims in perpetuity, but there's a reversion clause. If a depositor does not claim the deposit delivered to the custody of the State within 10 years of the date of delivery, the deposit must then immediately be refunded to FDIC, and all rights of the depositor against the state are barred.

It's important to note that If a state declines to accept custody of the deposit - which they sometimes do - the depositor must claim the funds from the FDIC before the receivership is terminated, or all rights of the depositor with respect to the deposit are barred. Dividends for credits arising from uninsured portions of a deposit may, however, be claimed after the receivership is terminated if a dividend check was returned by the post office for a bad address.

Be aware that due to the number of mergers and acquisitions in the banking industry over the years, it is possible you or a deceased family member might well have an account at a failed bank and not know it. Additionally, unclaimed safe deposit boxes at closed branches may be drilled and the contents sold at auction just weeks after closing, so prompt action is advised. For assistance go to: Unclaimed Account Search

History: Established in 2000
2008 Merged with government financial assistance and subsequently operated as part of Regions Bank.