Failed Bank Report: Claim FDIC Insured Deposits at Failed Banks

Ocala National Bank - Ocala, FL

Ocala National Bank - Unclaimed bank account search

Ocala National Bank - missing bank account search

lost bank account search - 1st Centennial Bank

January 30, 2009: Ocala National Bank, Ocala, FL was closed by the Office of the Comptroller of the Currency (OCC). The Federal Deposit Insurance Corporation (FDIC) was named Receiver.

As of December 31, 2008, Ocala National Bank had assets of $223.5 million and deposits of $205.2 million.

The FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, Winter Haven, Florida, to assume all of the deposits of the Ocala National Bank. All non-brokered deposit accounts have been transferred to CenterState; and on Monday, February 2, the four former Ocala National Bank locations reopened as CenterState branches.

Ocala National also had approximately $17.2 million in brokered deposits that are not part of today's transaction. The FDIC will pay the brokers directly for the amount of their insured funds. Customers who have placed money with these brokers should contact them directly for more information.

All interest accrued through Friday, January 30, 2009 will be paid at your same rate, however CenterState will be reviewing rates.

CenterState Bank of Florida, National Association
7722 State Road 544
Winter Haven, FL 33881
(863) 678-6608

In addition to assuming all of the failed bank's deposits for a premium of 1.7 percent, CenterState agreed to purchase approximately $23.5 million in assets. The FDIC will retain the remaining assets for later disposition.

The FDIC estimates the cost to its Deposit Insurance Fund will be $99.6 million.

For additional information and assistance contact the FDIC at: 800-930-5170; or go to:

2009 FDIC Insured Failed Banks
Ocala National Bank
3001 SE Maricamp Road
Ocala, FL 34471

Established on 2/7/1986 as
Ocala National Bank

Assets: $224 million
Deposits: $205 million
Cost to FDIC: $100 million



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 1st Ocala National Bank and have not received a notice, please contact:

Federal Deposit Insurance Corporation
Receiver: Ocala National Bank
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas  75201

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 on 2/7/1986 as Ocala National Bank