Federal shut down Guaranty Bank

Feds shut down Guaranty Bank. First-Citizens Bank to continue operating a handful of branches

On Friday, May 5, 2017, Guaranty Bank, Milwaukee, WI (d/b/a BestBank in Georgia & Michigan) was closed by the Office of the Comptroller of the Currency. Subsequently, 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 have been transferred to First-Citizens Bank & Trust Company, Raleigh, NC. Guaranty Bank had 119 branches in 5 states, most of which were in grocery stores (107 total). The branches in grocery stores will not be reopening. The 12 brick-and-mortar locations in Illinois, Minnesota, and Wisconsin will reopen as branches of First-Citizens Bank & Trust Company during their normal business hours. All depositors of Guaranty Bank, regardless of where they conducted business, will automatically become depositors of First-Citizens Bank & Trust Company. For more information on First-Citizens Bank & Trust Company, visit us at https://www.firstcitizens.com.

The FDIC has assembled useful information regarding your relationship with Guaranty Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

Please select the link below to read more about this event:

FDIC Bank Closing Information for Guaranty Bank

SOURCE: https://www.guarantybank.com/