Friday, March 27, 2009:
Omni National Bank, Atlanta, GA was closed by
the Office of the Comptroller of the Currency (OCC), The Federal Deposit
Insurance Corporation (FDIC) was named Receiver.
As of March 9, 2009, Omni National Bank had total assets of $956.0 million and total deposits of $796.8 million.
The FDIC entered into an agreement with SunTrust Bank, Atlanta, Georgia, to act as paying agent for the insured deposits of Omni National Bank. SunTrust will operate the six former branches of Omni National until April 27, 2009. Omni National had branches in Atlanta, Georgia; Dalton, Georgia; Tampa, Florida; Chicago, Illinois, Dallas, Texas; and Houston, Texas.
Principal and interest on insured accounts, through Friday, March 27, 2009, are fully insured by the FDIC, up to the insurance limit of $250,000. All interest accrued through Friday, March 27, 2009, will be paid at your same rate; however SunTrust Bank will be reviewing rates.
All insured depositors of Omni National may transfer their accounts to other banks at any time until April 27, 2009. At that time, all former Omni National branches will be closed. Customers who do not open new accounts at SunTrust or withdraw their funds by April 27th will be automatically transferred to SunTrust; except that depositors at Omni National branches in Illinois and Texas will have checks mailed to their address of record.
At the time of closing, there were approximately $2.0 million in uninsured deposits that potentially exceeded the insurance limits. Customers with accounts in excess of $250,000 should contact the FDIC toll-free at 1-800-830-3256.
All interest bearing accounts that exceed the $250,000 insurance limit and/or all interest bearing accounts that appear to be related and exceed this limit are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits, you should call the FDIC Call Center to arrange for a telephone interview with a Claims Agent at 1-800-830-3256.
Safe deposit box customers should make arrangements with SunTrust Bank before scheduled branch closures on April 27, 2009.
The cost to the FDIC's Deposit Insurance Fund is estimated to be $290 million.
For additional information and assistance contact the FDIC at: 1-800-822-0412; or go to: http://www.fdic.gov/bank/individual/failed/omni.html
|2009 FDIC Insured Failed Banks|
5 Concourse Parkway, Suite 100
Atlanta, GA 30328
|Assets: $956 million|
|Deposits: $797 million|
|Cost to FDIC: $290 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 Omni
National Bank and have not received a notice, please contact:
Federal Deposit Insurance Corporation
Note: Omni National Bank had no publicly owned stock. Equity shareholders were invested in the holding company, Omni Financial Services, Atlanta, GA, and not in the bank. Shareholders should contact the holding company with questions:
Omni Financial Services, Inc.
Unclaimed FDIC Insured Deposits
Note: There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes ...
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
Established on Established on
3/8/1976 as United National Bank
2/15/2001: Changed name to Omni National Bank
6/24/2004: Acquired Premier Community Bank
7/01/2005: Acquired Omni Interim, National Association
7/02/2007: Acquired Wilson State Bank, Wilson TX
|© 2014 NUPA - NATIONAL UNCLAIMED PROPERTY ASSOCIATES|