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To: patron_anejo_por_favor who wrote (213642)	7/31/2009 8:08:18 PM
From: RockyBalboa	Respond to of 306849

And here goes the next $billion. We travel to Harvey, IL. 50% taxpayer sponsored, hurrah! mutualbanking.com Mutual Bank, Harvey, Illinois, was closed today by the Illinois Department of Financial Professional Regulation - Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Central Bank, Garland, Texas, to assume all of the deposits of Mutual Bank. Mutual Bank's 12 branches will reopen on Saturday during normal business hours as branches of United Central Bank. Depositors of Mutual Bank will automatically become depositors of United Central Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until United Central Bank can fully integrate the deposit records of Mutual Bank. Over the weekend, depositors of Mutual Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual. As of July 16, 2009, Mutual Bank had total assets of $1.6 billion and total deposits of approximately $1.6 billion. In addition to assuming all of the deposits of the failed bank, United Central Bank agreed to purchase essentially all of the assets. The FDIC and United Central Bank entered into a loss-share transaction on approximately $1.3 billion of Mutual Bank's assets. United Central Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-sharing arrangement is projected to maximize returns on the assets covered by keeping them in the private sector. The agreement also is expected to minimize disruptions for loan customers. Customers who have questions about today's transaction can call the FDIC toll-free at 1-866-806-5919. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT. Interested parties can also visit the FDIC's Web site at fdic.gov. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $696 million.