Landmark Bank, National Association, Fort Lauderdale, Florida, Assumes All of the Deposits of Valley Bank, Fort Lauderdale, Florida — 2014-06-20

Valley Bank, Fort Lauderdale, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Landmark Bank, National Association, Fort Lauderdale, Florida, to assume all of the deposits of Valley Bank. The four branches of Valley Bank will reopen as branches of Landmark Bank, National Association during their normal business hours. Depositors of Valley Bank will automatically become depositors of Landmark 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.