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Failed Bank Information Question and Answer Guide for The First National Bank of Danville, Danville, IL FDIC Call Center Toll free number 1-800-591-2817 Hours of Operation – Central Time Thursday, July 2, 2009:   Until 9:00 p.m. Friday, July 3, 2009:   9:00 a.m. – 6:00 p.m. Saturday, July 4, 2009:   9:00 a.m. – 6:00 p.m. Sunday, July 5, 2009:   Noon – 6:00 p.m. Thereafter:   8:00 a.m. – 8:00 p.m. On Thursday, July 2, 2009, The First National Bank of Danville, Danville, IL was closed by the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, First Financial Bank, National Association, Terre Haute, IN acquired all the deposits and assets of The First National Bank of Danville from the FDIC as Receiver for The First National Bank of Danville. Any claims by equity holders were not acquired. The total balance in your account(s) has been transferred to First Financial Bank, National Association, and will be available for transactions during regular business hours at the former The First National Bank of Danville branches starting on Monday, July 6, 2009. NOTE: In observance of the holiday, the bank will be closed from Friday July 3rd through Sunday, July 5th. The bank will reopen on Monday, July 6th, 2009. You may continue to use your same checks, ATM cards and debit cards until notified. All Direct Deposits, including Social Security checks will continue as usual.

Account(s): What about my account with The First National Bank of Danville?

If you had an account with The First National Bank of Danville, you now have an account with First Financial Bank, National Association, Terre Haute, IN. All deposit accounts, which include Checking, Savings, Money Market, CDs and Retirement accounts, have been transferred to First Financial Bank, National Association, regardless of the dollar amount. No one lost any money on deposit in The First National Bank of Danville.

Customers of both banks should continue to use their existing branches until First Financial Bank, National Association, can fully integrate the deposit records of The First National Bank of Danville.

Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information.  Please be aware of any scams to obtain information from you.

ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with The First National Bank of Danville?

Your ATM/debit card will continue to work, and bill paying will work as it has in the past.

Brokered Deposits: I am a deposit broker or have brokered deposits. What do I do?

As an All-Deposit Transfer transaction, the total of all deposit accounts, including brokered deposits, have been assumed by First Financial Bank, National Association.

Be advised, however, that from and after the date of closing, First Financial Bank, National Association, will accrue and pay interest on deposit liabilities at a rate it shall determine; accordingly, First Financial Bank, National Association, shall permit depositors, including brokered depositors, impacted by reduced rates to withdraw their deposits without penalty for early withdrawal.
 

Direct Deposits - Government Deposits: What will happen to my direct deposits?

Direct Deposits, including Social Security checks, will continue as normal.

Existing Deposits at First Financial Bank, National Association: I already have other deposit accounts with the new bank.  When combined with balances at this bank, my deposits exceed $250,000.  Are all funds insured?

The accounts transferred to First Financial Bank, National Association, will be separately insured for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the failed bank are separately insured until the earliest maturity date after the end of the six-month grace period.

CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period.

If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.

Interest Rates, Early Withdrawal Penalty: Will I continue to earn interest at the same rate?  Will I be charged an early withdrawal penalty?

All interest on insured deposits accrued through Thursday, July 2, 2009, will be paid at your same rate. First Financial Bank, National Association, will review rates and notify you.

You may withdraw funds from any transferred account without an early withdrawal penalty until you enter a new deposit agreement with your new bank. Entering into a new deposit agreement can be done by either renewing your CD or making a deposit to, or withdrawal from, your account.

Loans/mortgages: What about my loan or mortgage with The First National Bank of Danville?

All mortgages and loans have been assumed by First Financial Bank, National Association. Your payment amount and due date are the same. If you are having your payment deducted from your account, it will continue as it has in the past. You should continue to make your checks payable to The First National Bank of Danville and send your payments to the same address.

Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer.  All prior contacts remain the same.

Media: I represent a TV/Newspaper/Radio and would like some information.

Please contact the Office of Public Affairs:

Outstanding Checks: What about checks that I have written on my account with The First National Bank of Danville?

Your checks will clear up to the available balance in your account. You can continue to use your existing checks.

Safe Deposit Boxes: How can I claim the contents of my safe deposit box?

It is business as usual.  You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.

Shareholders: What about my shares of stock?

There was no publicly owned stock in The First National Bank of Danville. If you are an equity shareholder, your shares are in Vermillion Holdings, Inc., Worth, IL, the holding company for The First National Bank of Danville, and not the institution. Any claims by equity holders were not acquired. The holding company, and the interests of equity, debt holders or other creditors of the holding company are not included in the closure or receivership of the institution. 

Please do not file a claim with the Receiver, rather contact the holding company directly for information:

Transaction Types: Why do all deposits, insured or not, pass in some transactions but not in others?

The FDIC is required by law to employ the least-cost resolution measure for each failed financial institution.  The most frequent result is for the FDIC to transfer only the insured deposits in a merger transaction.  The FDIC has been able to transfer all deposits in about 25% of the failures over the past 15 years.

Unpaid Bills: I did some work for the bank and have not been paid. What should I do?

All claims against The First National Bank of Danville, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

Last Updated 07/02/2009

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