U.S. Bank, National Association, Minneapolis, Minnesota, Assumes All of the Deposits of First Community Bank, Taos, New Mexico 

First Community Bank, Taos, New Mexico, was closed today by the New Mexico Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank, National Association, Minneapolis, Minnesota, to assume all of the deposits of First Community Bank.

The 38 branches of First Community Bank will reopen during their normal business hours beginning Saturday as branches of U.S. Bank, National Association. Depositors of First Community Bank will automatically become depositors of U.S. Bank, National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Community Bank should continue to use their existing branch until they receive notice from U.S. Bank, National Association that it has completed systems changes to allow other U.S. Bank, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of First Community 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 September 30, 2010, First Community Bank had approximately $2.31 billion in total assets and $1.94 billion in total deposits. In addition to assuming all of the deposits of the failed bank, U.S. Bank, National Association agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-450-5417. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/firstcomm_nm.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.0 million. Compared to other alternatives, U.S. Bank, National Association's acquisition was the least costly resolution for the FDIC's DIF. First Community Bank is the eleventh FDIC-insured institution to fail in the nation this year, and the first in New Mexico. The last FDIC-insured institution closed in the state was High Desert State Bank, Albuquerque, on June 25, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-18-2011

FDIC Creates the Deposit Insurance National Bank of Louisville to Protect Insured Depositors of FirsTier Bank, Louisville, Colorado 

FirsTier Bank, Louisville, Colorado, was closed today by the Colorado Division of Banking, which appointed Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of Louisville (DINB), which will remain open until February 28, 2011, to allow depositors access to their insured deposits and time to open accounts at other insured institutions.

At the time of closing, the receiver immediately transferred to the DINB all insured deposits of FirsTier Bank, except for brokered deposits, certificates of deposit (CDs) and individual retirement accounts (IRAs). The receiver also transferred to the DINB all secured deposits of public entities.

The FDIC will mail checks directly to customers with CDs and IRAs. For the brokered deposit customers, the FDIC will pay the brokers directly for the amount of their insured funds. Customers with brokered deposits should contact their brokers directly for information concerning their money.

The main office and all branches of FirsTier Bank will re-open on Saturday, January 29, 2011, and will provide limited services. The DINB will maintain limited business hours. Banking activities, such as writing checks, ATM and debit card withdrawals, can continue normally for former customers of FirsTier Bank until February 11, 2011. Official checks of FirsTier Bank will continue to clear and will be issued to customers who will be closing their accounts. All government direct deposits, including Social Security checks, will be redirected to FirstBank, Lakewood, Colorado, for 30 days after February 22, 2011, which will process them at the same time as in the past.

All insured depositors of FirsTier Bank are encouraged to transfer their insured funds to other banks during this transitional period. They may do so by asking their new bank to electronically transfer their deposits from the DINB or by writing checks for the amount in their accounts. For depositors who have not closed or transferred their accounts on or before February 28, the FDIC will mail checks to the address of record for the amount of the insured funds.

Under the FDI Act, the FDIC may create a deposit insurance national bank to ensure that depositors have continued access to their insured funds where no other bank has agreed to assume the insured deposits. This arrangement allows for uninterrupted direct deposits and automated payments from customers' accounts and allows them time to find another institution with which to do business.

As of September 30, 2010, FirsTier Bank had $781.5 million in total assets and $722.8 million in total deposits. At the time of closing, the amount of deposits exceeding the insurance limits was undetermined. Uninsured deposits were not transferred to the DINB. The amount of uninsured deposits will be determined once the FDIC obtains additional information from those customers.

Customers with accounts in excess of $250,000 should contact the FDIC toll-free at 1-800-517-8236 to set up an appointment to discuss their deposits. This phone number will be operational this evening until 9 p.m., Mountain Standard Time (MST); on Saturday from 9 a.m. to 6 p.m., MST; on Sunday from noon to 6 p.m., MST; and thereafter from 8 a.m. to 8 p.m., MST. Customers who would like more information on today's transaction should visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/firstier.html.

Beginning Monday, depositors of FirsTier Bank with more than $250,000 at the bank may visit the FDIC's Web page "Is My Account Fully Insured?" at http://www2.fdic.gov/dip/Index.asp to determine their insurance coverage.

The FDIC as receiver will retain all the assets from FirsTier Bank for later disposition. Loan customers should continue to make their payments as usual.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $242.6 million. FirsTier Bank is the tenth FDIC-insured institution to fail in the nation this year, and the second in Colorado. The last FDIC-insured institution closed in the state was United Western Bank, Denver, on January 21, 2011.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-17-2011

McFarland State Bank, McFarland, Wisconsin, Assumes All of the Deposits of Evergreen State Bank, Stoughton, Wisconsin 

Evergreen State Bank, Stoughton, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with McFarland State Bank, McFarland, Wisconsin, to assume all of the deposits of Evergreen State Bank.

The four branches of Evergreen State Bank will reopen on Saturday as branches of McFarland State Bank. Depositors of Evergreen State Bank will automatically become depositors of McFarland State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Evergreen State Bank should continue to use their existing branch until they receive notice from McFarland State Bank that it has completed systems changes to allow other McFarland State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Evergreen State 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 September 30, 2010, Evergreen State Bank had approximately $246.5 million in total assets and $195.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, McFarland State Bank agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-517-1846. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/evergreenstatewi.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million. Compared to other alternatives, McFarland State Bank's acquisition was the least costly resolution for the FDIC's DIF. Evergreen State Bank is the ninth FDIC-insured institution to fail in the nation this year, and the first in Wisconsin. The last FDIC-insured institution closed in the state was First Banking Center, Burlington, on November 19, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-16-2011

Bank 7, Oklahoma City, Oklahoma, Assumes All of the Deposits of the First State Bank, Camargo, Oklahoma 

The First State Bank, Camargo, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank 7, Oklahoma City, Oklahoma, to assume all of the deposits of The First State Bank.

The sole branch of The First State Bank will reopen on Monday as a branch of Bank 7. Depositors of The First State Bank will automatically become depositors of Bank 7. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of The First State Bank should continue to use their existing branch until they receive notice from Bank 7 that it has completed systems changes to allow other Bank 7 branches to process their accounts as well.

This evening and over the weekend, depositors of The First State 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 September 30, 2010, The First State Bank had approximately $43.5 million in total assets and $40.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Bank 7 agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-450-5668. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/firststatebank_ok.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.1 million. Compared to other alternatives, Bank 7's acquisition was the least costly resolution for the FDIC's DIF. The First State Bank is the eighth FDIC-insured institution to fail in the nation this year, and the first in Oklahoma. The last FDIC-insured institution closed in the state was Home National Bank, Blackwell, on July 9, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-15-2011

First-Citizens Bank & Trust Company, Raleigh, North Carolina, Assumes All of the Deposits of United Western Bank, Denver, Colorado

United Western Bank, Denver, Colorado, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of United Western Bank.

The eight branches of United Western Bank will reopen on Monday as branches of First-Citizens Bank & Trust Company. Depositors of United Western Bank will automatically become depositors of First-Citizens Bank & Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of United Western Bank should continue to use their existing branch until they receive notice from First-Citizens Bank & Trust Company that it has completed systems changes to allow other First-Citizens Bank & Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of United Western 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 September 30, 2010, United Western Bank had approximately $2.05 billion in total assets and $1.65 billion in total deposits. First-Citizens Bank & Trust Company did not pay the FDIC a premium for the deposits of United Western Bank. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank & Trust Company agreed to purchase essentially all of the assets.

The FDIC and First-Citizens Bank & Trust Company entered into a loss-share transaction on $1.11 billion of United Western Bank's assets. First-Citizens Bank & Trust Company will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-8028. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/unitedwestern.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $312.8 million. Compared to other alternatives, First-Citizens Bank & Trust Company's acquisition was the least costly resolution for the FDIC's DIF. United Western Bank is the seventh FDIC-insured institution to fail in the nation this year, and the first in Colorado. The last FDIC-insured institution closed in the state was Southern Colorado National Bank, Pueblo, on October 2, 2009.

The Bank of Asheville, Asheville, North Carolina, was closed today by the North Carolina Office of Commissioner of Banks, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Bank, Troy, North Carolina, to assume all of the deposits of The Bank of Asheville.

The five branches of The Bank of Asheville will reopen on Monday as branches of First Bank. Depositors of The Bank of Asheville will automatically become depositors of First Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of The Bank of Asheville should continue to use their existing branch until they receive notice from First Bank that it has completed systems changes to allow other First Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The Bank of Asheville 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 September 30, 2010, The Bank of Asheville had approximately $195.1 million in total assets and $188.3 million in total deposits. First Bank did not pay the FDIC a premium for the deposits of The Bank of Asheville. In addition to assuming all of the deposits of the failed bank, First Bank agreed to purchase essentially all of the assets.

The FDIC and First Bank entered into a loss-share transaction on $166.3 million of The Bank of Asheville's assets. First Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-234-9027. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/bankofasheville.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $56.2 million. Compared to other alternatives, First Bank's acquisition was the least costly resolution for the FDIC's DIF. The Bank of Asheville is the sixth FDIC-insured institution to fail in the nation this year, and the first in North Carolina. The last FDIC-insured institution closed in the state was Cooperative Bank, Wilmington, on June 19, 2009.

Enterprise Banking Company, McDonough, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of McDonough (DINB), which will remain open until January 28, 2011, to allow depositors access to their insured deposits and time to open accounts at other insured institutions.

At the time of closing, the receiver immediately transferred to the DINB all insured deposits of Enterprise Banking Company, except for brokered deposits, certificates of deposit (CDs) and individual retirement accounts (IRAs). The receiver also transferred to the DINB all secured deposits of public entities.

The FDIC will mail checks directly to customers with CDs and IRAs. For the brokered deposit customers, the FDIC will pay the brokers directly for the amount of their insured funds. Customers with brokered deposits should contact their brokers directly for information concerning their money.

The main office and all branches of Enterprise Banking Company will re-open on Monday, January 24, 2011, and will provide limited services. The DINB will maintain limited business hours for Enterprise Banking Company. All government direct deposits, including Social Security checks, have been redirected to United Community Bank, Blairsville, Georgia, which will process them at the same time as in the past. Banking activities, such as writing checks, ATM and debit card withdrawals, can continue normally for former customers of Enterprise Banking Company until January 26, 2011. Official checks of Enterprise Banking Company will continue to clear and will be issued to customers who will be closing their accounts.

All insured depositors of Enterprise Banking Company are encouraged to transfer their insured funds to other banks during this transitional period. They may do so by asking their new bank to electronically transfer their deposits from the DINB or by writing checks for the amount in their accounts. For depositors who have not closed or transferred their accounts on or before January 28, 2011, the FDIC will mail checks to the address of record for the amount of the insured funds.

Under the FDI Act, the FDIC may create a deposit insurance national bank to ensure that depositors have continued access to their insured funds where no other bank has agreed to assume the insured deposits. This arrangement allows for uninterrupted direct deposits and automated payments from customers' accounts and allows them time to find another institution with which to do business.

As of September 30, 2010, Enterprise Banking Company had $100.9 million in total assets and $95.5 million in total deposits. At the time of closing, the amount of deposits exceeding the insurance limits was undetermined. Uninsured deposits were not transferred to the DINB. The amount of uninsured deposits will be determined once the FDIC obtains additional information from those customers.

Customers with accounts in excess of $250,000 should contact the FDIC toll-free at 1-800-405-8251 to set up an appointment to discuss their deposits. This phone number will be operational this evening until 9 p.m., Eastern Standard Time (EST); on Saturday from 9 a.m. to 6 p.m., EST; on Sunday from noon to 6 p.m., EST; and thereafter from 8 a.m. to 8 p.m., EST. Customers who would like more information on today's transaction should visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/enterprise.html.

Beginning Monday, depositors of Enterprise Banking Company with more than $250,000 at the bank may visit the FDIC's Web page "Is My Account Fully Insured?" at http://www2.fdic.gov/dip/Index.asp to determine their insurance coverage.

The FDIC as receiver will retain all the assets from Enterprise Banking Company for later disposition. Loan customers should continue to make their payments as usual.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $39.6 million. Enterprise Banking Company is the fourth FDIC-insured institution to fail in the nation this year, and the second in Georgia. The last FDIC-insured institution closed in the state was Oglethorpe Bank, Brunswick, on January 14, 2011.

CommunitySouth Bank and Trust, Easley, South Carolina, was closed today by the South Carolina State Board of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CertusBank, National Association, Easley, South Carolina, a newly-chartered bank subsidiary of Blue Ridge Holdings, Inc., Charlotte, North Carolina, to assume all of the deposits of CommunitySouth Bank and Trust.

The six branches of CommunitySouth Bank and Trust will reopen on Saturday as branches of CertusBank, N.A. Depositors of CommunitySouth Bank and Trust will automatically become depositors of CertusBank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of CommunitySouth Bank and Trust should continue to use their existing branch until they receive notice from CertusBank, N.A. that it has completed systems changes to allow other CertusBank, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of CommunitySouth Bank and Trust 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 September 30, 2010, CommunitySouth Bank and Trust had approximately $440.6 million in total assets and $402.4 million in total deposits. CertusBank, N.A. did not pay the FDIC a premium for the deposits of CommunitySouth Bank and Trust. In addition to assuming all of the deposits of the failed bank, CertusBank, N.A. agreed to purchase essentially all of the assets.

The FDIC and CertusBank, N.A. entered into a loss-share transaction on $211.3 million of CommunitySouth Bank and Trust's assets. CertusBank, N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-8124. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/commsouth.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $46.3 million. Compared to other alternatives, CertusBank, N.A.'s acquisition was the least costly resolution for the FDIC's DIF. CommunitySouth Bank and Trust is the fifth FDIC-insured institution to fail in the nation this year, and the first in South Carolina. The last FDIC-insured institution closed in the state was Williamsburg First National Bank, Kingstree, on July 23, 2010.

Enterprise Bank & Trust, St. Louis, Missouri, Assumes All of the Deposits of Legacy Bank, Scottsdale, Arizona 

Legacy Bank, Scottsdale, Arizona, was closed today by the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Enterprise Bank & Trust, St. Louis, Missouri, to assume all of the deposits of Legacy Bank.

The two branches of Legacy Bank will reopen on Monday as branches of Enterprise Bank & Trust. Depositors of Legacy Bank will automatically become depositors of Enterprise Bank & Trust. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Legacy Bank should continue to use their existing branch until they receive notice from Enterprise Bank & Trust that it has completed systems changes to allow other Enterprise Bank & Trust branches to process their accounts as well.

This evening and over the weekend, depositors of Legacy 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 September 30, 2010, Legacy Bank had approximately $150.6 million in total assets and $125.9 million in total deposits. Enterprise Bank & Trust will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Legacy Bank. In addition to assuming all of the deposits of the failed bank, Enterprise Bank & Trust agreed to purchase essentially all of the assets.

The FDIC and Enterprise Bank & Trust entered into a loss-share transaction on $119.8 million of Legacy Bank's assets. Enterprise Bank & Trust will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit:http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-8357. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/legacybank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27.9 million. Compared to other alternatives, Enterprise Bank & Trust's acquisition was the least costly resolution for the FDIC's DIF. Legacy Bank is the second FDIC-insured institution to fail in the nation this year, and the first in Arizona. The last FDIC-insured institution closed in the state was Copper Star Bank, Scottsdale, on November 12, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-3-2011