Why did all deposits pass in this transaction but not in the IndyMac transaction?
1. What if I have more than $100,000 in my accounts at First Heritage Bank? All deposit accounts have been transferred to Mutual of Omaha Bank. The bank will reopen for business on Monday, July 28, 2008, as a branch of Mutual of Omaha Bank. Back to top 2. What happened? Why did the bank fail? First Heritage Bank, Newport Beach, California was closed Friday, July 25, 2008, by the Office of the Comptroller of the Currency (OCC). Subsequently, the Federal Deposit Insurance Corporation (FDIC) was appointed Receiver. According to regulatory policy, there is no advance notice given to the public. Please see the OCC press release for more information. The good news is that no one lost any deposit money as a result of the closure of First Heritage Bank. To protect depositors, the FDIC Board of Directors approved the assumption of First Heritage Bank’s deposits by Mutual of Omaha Bank, Omaha, Nebraska. Back to top 3. How does this action affect me? All deposits of First Heritage Bank have been
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