Thread Starter: TINKerBell
Title: Re: FDIC Takeover
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Have been through it twice in the last 2 1/2 years. Each time it was different. First time local bank bought the deposits, but not the assets, therefore operational staff was kept on by FDIC for about a year while they sorted and sold the servicing of the loans. Retail staff became temp employees and had to go through interview process to be hired by acquiring bank.
2nd time was SO much different. I was the Compliance/CRA Officer at the failed bank. The acquiring bank bought both the deposits and assets of our bank. Only employees who were done that fateful day were the CEO and CCO. The acquiring bank kept everyone else, including Compliance, BSA, COO, CFO, etc, even though they had people in those positions. Even after conversion, very few were let go. I was retained, given a raise, and am working for a GREAT bank! Hang in there! This could work to your benefit!
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