We have been advised that on Friday, August 2, 2013, First Community Bank of Southwest Florida, Fort Myers, Florida, also operating as Community Bank of Cape Coral, was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with C1 Bank, Saint Petersburg, Florida, to assume all of the deposits of First Community Bank of Southwest Florida.
The seven former branches of First Community Bank of Southwest Florida will reopen as branches of C1 Bank. Depositors of First Community Bank of Southwest Florida will automatically become depositors of C1 Bank. Deposits will continue to be insured by the FDIC and checks drawn on the bank will continue to be processed.
For more information about C1 Bank, visit their web site at http://www.c1bank.com.
If you have any questions about the change-over, you can call the FDIC toll-free at 800-591-2916, or visit the FDIC's web site at http://www.fdic.gov/bank/individual/failed/firstcommswb.html.
This ALERT has been published for the sole purpose of meeting the company’s predetermined underwriting criteria, and should in no way be construed as the opinion of The Fund as to the financial stability or impropriety of the parties or entities named in this ALERT.
** This Alert should be kept as a permanent part of your records to assist in your compliance with the requirements contained herein. **
Please provide a copy of this Alert to your staff so they can read it and become aware of its contents.
Should you have any questions please call The Fund’s Underwriting Department at
800-432-9594 or send an E-mail to: underwriting@thefund.com.