Rabobank, National Association, El Centro, California, acquires all deposits of two Banks in California

Press Releases
Rabobank, National Association, El Centro, California, acquires all deposits of two Banks in California
Butte Community Bank, Chico and Pacific State Bank, Stockton

AS SOON AS THE PUBLICATION OF THE
20. August 2010 Media Contact:
Greg Hernandez
Phone: 202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Chico, California, Pacific State Bank, Stockton, California, Butte Community Bank is closed today by the California Department of financial institutions, which then was appointed receiver of two banks, the Federal Deposit Insurance Corporation (FDIC). depositors, FDIC entered into a purchase and assumption agreement Rabobank, National Association, El Centro, California, all deposits and substantially all the assets of two failed banks, which are linked.

In conjunction with the failed banks operating in 23 branches, which opened as the Rabobank, National Association of normal business hours, including Saturday hours of those establishments, branches. Butte Community Bank has 14 branches and Pacific State Bank has nine branches.Depositors will appear automatically in the depositors of the Rabobank, National Association.FDIC insured Deposits continue, so there is no need for customers to change banking relationships to conserve their deposit insurance coverage.

Two failed banks customers should continue to use their former branches Pink Car Seat Covers before they receive communication in the framework of the Rabobank, National Association, that it is a ready-to-use systems changes, so that other Rabobank National Association also for its branches. Over the weekend the depositors to provide cash checks in writing or using ATM or debit card cards. further the Bank's Loan. customers should continue their for the purpose of effecting payments in the usual manner.

30. June 2010, the District Community Bank had total assets of $ 498.8 million and total deposits 471.3 million, and Pacific State Bank had total assets of $ 312.1 million and total deposits 278.8 million dollars.Rabobank, National Association shall pay the FDIC 4.05% to assume all deposits District Community Bank premium, but it did not pay the premium with the Pacific FDIC State Bank.

FDIC and Rabobank, National Association became the LGD events 425.4 million dollars in the Bank's District of Community funds; and 249.7 million dollar Pacific State of EIB funds.Rabobank, National Association share the determination of asset pools LGD within the scope of the agreement.Loss-to-GDP ratio is projected to maximise the return on the transaction to keep the assets covered by the private sector are also expected to the transaction. loan customers to reduce disturbances.For more information about the LGD, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about days events call toll free: FDIC District community bank customers, 1-800-450-5417; and Pacific State Bank customers, 1-800-640-2693. phone numbers ready to operate in the evening until 9: 00 p.m. Pacific Daylight Time; 6: 00 p.m. PDT-9: 00 a.m., Saturday, Sunday, at 6: 00 p.m. PDT; up to and after 8: 00 a.m. 8: 00 p.m. PDT.

Interested parties also visit the FDIC's Web site (s): Butte Community Bank, http://www.fdic.gov/bank/individual/failed/butte.html; and Pacific State Bank, http://www.fdic.gov/bank/individual/failed/pacificbk.html.

FDIC estimates that the cost-Deposit Insurance fund (DIF) Butte Community Bank is 17,4 million dollars, and Pacific State Bank, 32.6 million dollar. other options, Rabobank, compared to the National Association of acquisition was the cheapest, the accuracy of the FDIC DATA INTERCHANGE FORMAT.

These closures will lead to an increase in the total number of banks in 116 of the nation and the seventh and eighth in California. these failures before the last FDIC insured bank closed was Granite Community Bank, National Association, Granite Bay, 28.until May 2010.

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Congress created the Federal Deposit Insurance Corporation to restore the public's confidence in the nation of the banking system of the 1933. deposits FDIC takaatte successful nation 7,932 banks and savings associations and it contributes to the stability and security by identifying, monitoring and deal with risks for which they are exposed to the FDIC may not. federal tax dollars – the insured financial institutions to finance their activities.

FDIC press releases and other information is electronically available on the Internet at www.fdic.gov order (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained from the FDIC's Public Information Center (877-275-3342 or 703-562-2200).PR-194-2010