Westamerica Bank, San Rafael, California, reply to all, Sonoma Valley Bank deposits, Sonoma, California

Press Releases
Westamerica Bank, San Rafael, California, reply to all, Sonoma Valley Bank deposits, Sonoma, California

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

Sonoma Valley Bank, Sonoma, California, was closed today by the California Department of financial institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. depositors, entered in the purchase and assumption agreement Westamerica Bank, San Rafael, California, to assume that all of the Sonoma Valley Bank deposits FDIC.

Sonoma Valley Bank three branches open Saturday than branches Westamerica Bank depositors Valley Sonoma. the Bank shall automatically Westamerica Bank depositors.FDIC insured Deposits continue, so there is no how to get child custody need for customers to change banking relations between them in order to preserve the deposit insurance coverage.Sonoma Valley Bank customers should continue to use the existing branch, before they receive communication Westamerica Bank that it is complete, so that other branches of the bank account for the Westamerica also systems changes.

This evening and over the weekend, the depositors of the Sonoma Valley, a bank to provide cash the checks in writing 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, the Sonoma Valley Bank was around 337.1 million dollar assets and the 255.5 million euro in total deposits.Westamerica Bank to pay 2,0% assumed all deposits Sonoma Valley Bank FDIC premium. in addition to assuming all of the failed bank's deposits, Westamerica Bank agreed to purchase substantially all the assets.

Customers who have questions about today's event can call the FDIC toll free 1-800-913-3062. phone number: 00-functional 9 p.m., Pacific Daylight Time (PDT) until the evening of Saturday-9: 00 a.m. 6: 00 p.m. PDT, on Sunday, at 6: 00 p.m., PDT, and 8: 00 a.m. 8: 00 p.m., PDT. interested parties may also visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/sonoma.html.

FDIC estimates that Deposit Insurance (DIF)-cost is 10.1 million dollar compared to other options., Westamerica Bank acquisition was the FDIC DIF. Sonoma Valley Bank cheapest resolution is FDIC insured institution-118th, face the nation this year, and 10th in California Last FDIC insured institution. closed was Los Padres Bank, Solvang, earlier today.

# # #

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-196-2010