Jacksonville's First Guaranty Bank Seized by Federal Regulators | Business

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Jacksonville's First Guaranty Bank Seized by Federal Regulators
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JACKSONVILLE, Fla. -- Federal regulators say First Guaranty Bank and Trust Company will reopen Monday under a new name.

The FDIC seized the Jacksonville bank Friday as a part of a national bank failure sweep. First Guaranty has eight branches in Jacksonville. CenterState Bank out of Winter Haven is assuming all assets and deposits.

The FDIC says that over the weekend, First Guaranty customers can access money by writing checks or using ATM or debit cards.

Customers with questions should call the FDIC toll-free at 1-800-508-8289. The phone number will be operational Saturday from 9:00 a.m. to 6:00 p.m.; Sunday from noon to 6:00 p.m.; Monday from 8 a.m. to 8 p.m.; and thereafter from 9:00 a.m. to 5:00 p.m

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.

The FDIC says customers of First Guaranty Bank and Trust Company of Jacksonville should continue to use their existing branch until they receive notice from CenterState Bank of Florida.

First Guaranty Bank and Trust Company of Jacksonville is the fourth FDIC-insured institution to fail in the nation this year, and the second in Florida. The last FDIC-insured institution closed in the state was Central Florida State Bank, Belleview, on January 20, 2012.

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