Fund News and Alerts

First Community Bank of Southwest Florida CLOSED

We have been advised that on Friday, August 2, 2013, First Community Bank of Southwest Florida, Fort Myers, Florida, also operating as Community Bank of Cape Coral, was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.  To protect the depositors, the FDIC entered into a purchase and assumption agreement with C1 Bank, Saint Petersburg, Florida, to assume all of the deposits of First Community Bank of Southwest Florida.

08/05/2013

Local Bank Operating Under Alias

We have been advised that on Friday, August 2, 2013, First Community Bank of Southwest Florida, Fort Myers, Florida, also operating as Community Bank of Cape Coral, was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.  To protect the depositors, the FDIC entered into a purchase and assumption agreement with C1 Bank, Saint Petersburg, Florida, to assume all of the deposits of First Community Bank of Southwest Florida.

08/05/2013

Title Insurance Policy Surcharge Delayed

The Florida Office of Insurance Regulation (OIR) has delayed the implementation of the title insurance policy surcharge to August 6, 2013. As The Fund previously alerted you, OIR has ordered a surcharge of twenty-eight cents ($0.28) to be collected on each title insurance policy issued in Florida. This now applies to policies with effective dates of August 6, 2013, and thereafter until further notice by OIR.

04/25/2013

Chipola Community Bank, Marianna, Florida

We have been advised that on Friday, April 19, 2013,Chipola Community Bank, Marianna, Florida, was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

04/22/2013

Heritage Bank of North Florida, Orange Park, Florida

We have been advised that on Friday, April 19, 2013, Heritage Bank of North Florida, Orange Park, Florida, was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with FirstAtlantic Bank, Jacksonville, Florida, to assume all of the deposits of Heritage Bank of North Florida.

04/22/2013

FDIC to Reserve Oil, Gas & Mineral Rights

The FDIC announced last week that it will implement a program to reserve oil, gas and mineral rights in any land it conveys in its capacity as receiver for a failed bank. Effective April 1, 2013, contracts for the sale of Owned Real Estate (ORE) assets will include these mineral reservations.

04/02/2013

Scam Alert from The Florida Bar

The Florida Bar website reports that it has become aware that someone posing as a Florida Bar employee is calling members and telling them that their Bar fees are unpaid.

03/05/2013

Title Insurance Policy Surcharge Again Delayed

The Florida Office of Insurance Regulation (OIR) has delayed the implementation of the title insurance policy surcharge to May 6, 2013.

01/18/2013

Title Insurance Policy Surcharge Delayed

The Florida Office of Insurance Regulation (OIR) has delayed the implementation of the title insurance policy surcharge to August 6, 2013. As The Fund previously alerted you, OIR has ordered a surcharge of twenty-eight cents ($0.28) to be collected on each title insurance policy issued in Florida. This now applies to policies with effective dates of August 6, 2013, and thereafter until further notice by OIR.

01/18/2013

CFPB Proposed Rule - Your Comments Are Important

No. 2 The Three-Day Rule

10/19/2012