Royal Palm Bank of Florida, Naples, FL, in FDIC Receivership
On Friday, July 20, 2012, The Royal Palm Bank of Florida, Naples, FL was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
All deposit accounts, including brokered deposits, have been transferred to First National Bank of the Gulf Coast, Naples, FL (“assuming institution”) and will be available immediately. The former The Royal Palm Bank of Florida locations will reopen as branches of First National Bank of the Gulf Coast during regular business hours.
Transferred deposits will be separately insured from any accounts that a customer may already have at First National Bank of the Gulf Coast for six months after the failure of The Royal Palm Bank of Florida. Checks that were drawn on The Royal Palm Bank of Florida that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.
Vendors that provided a service or product, leased space, furniture, or equipment to The Royal Palm Bank of Florida prior to Friday, July 20, 2012 and have not been paid, may be entitled to a claim against the bank.
Details on the closure are available at Failed Bank Information for The Royal Palm Bank of Florida, Naples, FL.
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