FIL-4-2015
January 15, 2015
The FDIC Launches Web Page to Support Marketing of Failing Financial Institutions
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Summary:
The Federal Deposit Insurance Corporation (FDIC) recently launched a Failing Bank Acquisitions Web page on FDIC.gov. This Web page will allow institutions to better understand how the FDIC markets failing financial institutions.
Statement of Applicability to Institutions With Less Than $1 Billion in Total Assets: This Financial Institution Letter applies to FDIC-insured financial institutions of any size that may be interested in acquiring a failing institution from the FDIC.
Highlights:
- To support the FDIC’s continued mission of maintaining financial system stability and public confidence while transparently resolving failing financial institutions in an orderly manner, the FDIC launched a Web page that explains how failing financial institutions are marketed.
- The primary goal of the Web page is to educate bankers about key components associated with the process of acquiring a failing financial institution, including regulatory qualification guidance, performing due diligence, and general transaction terms.
- The Web page will allow FDIC-insured institutions interested in receiving information about acquisition opportunities to designate a point of contact (POC) or update a current POC. Institutions should set their e-mail spam filters so that they will receive messages from InstitutionSales@fdic.gov.
- The Web page also provides an opportunity for FDIC-insured institutions to update their bidder profile by communicating state and/or asset size preferences.
- The Failing Bank Acquisitions Web page may be accessed from the FDIC’s Web site at https://www.fdic.gov/buying/FranchiseMarketing/index.html.