Salt Lake City Bank and Trust Company, Salt Lake City, Illinois, reply to all, Ravenswood Bank deposits, Chicago, Illinois

Press Releases
Salt Lake City Bank and Trust Company, Salt Lake City, Illinois, reply to all, Ravenswood Bank deposits, Chicago, Illinois

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

Ravenswood Bank, Chicago, Illinois, has ended today, the Illinois Department of financial and Professional regulation, Division of Banking, appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Depositors, purchase and assumption agreement, Salt Lake City Bank and Trust Company, Salt Lake City, Illinois, it is assumed that all deposits Ravenswood Bank FDIC.

Ravenswood Bank two branch open on Saturday as the Salt Lake City Bank and Trust Company. Ravenswood Bank depositors will appear automatically in the depositors of the Salt Lake City Bank and Trust Company FDIC insured Deposits continue., so there is no need for customers to change banking relations between them in order to preserve the deposit insurance coverage.Ravenswood Bank customers should continue to use the existing branch, before they receive notice in Salt Lake City Bank and Trust Company, that it is complete, so that other Salt Lake City Bank and Trust Company branches account for changes in the systems.

This evening and over the weekend, the depositors of the Ravenswood Bank uses money in writing checks or using ATM or debit card cards.Further Bank. Loan customers should continue their for the purpose of effecting payments in the usual manner.

30. June 2010, Ravenswood Bank had approximately 264.6 million dollar assets and the 269.5 million euro in total deposits. Salt Lake City Bank and Trust Company to pay the FDIC 0.90% of the premium, Ravenswood Bank-brokered deposits.In addition to the assumption of a failed Bank-brokered deposits, Salt Lake City Bank and Trust Company decided to purchase substantially all the assets.

FDIC and Salt Lake City Bank and Trust Company became the LGD 161.3 million dollar transaction, Ravenswood Bank funds. Salt Lake City Bank and Trust Company share loan losses 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.The event of serious internal disturbances affecting the maintenance loan customers are also expected to curtail. LGD for more information, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's event can call the FDIC toll free 1-800-430-7974. phone number: 00-functional 9 p.m., Central Daylight Time (Centre), until the evening of Saturday-9: 00 a.m. 6: 00 p.m., the translation Centre for bodies of the European Union; on Sunday, April 26, 2009 at 6: 00 p.m., the translation Centre for bodies of the European Union; and after 8: 00 a.m. 8: 00 p.m., the translation Centre for bodies of the European Union. interested parties may also visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/ravenswood.html.

FDIC estimates that the cost of Deposit Insurance (DIF), 68,1 million dollars is. compared to the other options, Salt Lake City Bank and Trust Company acquisition was the cheapest, the accuracy of the FDIC DIF Ravenswood Bank has to face. the nation this year, the FDIC insured with the institution and 109th thirteenth, Illinois Last FDIC insured institution. closed was Arcola Homestead savings bank, Arcola, 4 June 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-181-2010