FREQUENTLY ASKED QUESTIONS
What does this transaction mean to me?
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At the close of business on Friday, June 15th the Florida Office of Financial Regulation closed
Putnam State Bank and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
Simultaneous with the closure, Harbor Community Bank assumed all deposits and purchased
substantially all assets with assistance from the FDIC as Receiver.
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Putnam State Bank customer deposit and loan accounts have been automatically transferred to
Harbor Community Bank
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You do not need to do anything in order to continue banking with Harbor Community
Bank. We are working closely with the FDIC to make this transition as seamless as possible for
you. All account numbers will remain the same and you can continue to use your existing checks,
ATM/debit cards and online banking/bill pay services. You should also continue to make any
regular loan payments. Until further notice, please continue to bank at your branch location.
Who is Harbor Community Bank?
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Harbor Community Bank was chartered in 1960.
We are a community bank with assets of $180+ million operating six full-service retail banking
centers in East-Central Florida including Indiantown, Palm City, Okeechobee, Lakeport, Ft.
Pierce and Stuart.
The Bank was built on the solid foundations of customer service, loyalty, community and family.
The Bank is managed by the Executive Team from the former Harbor Federal Savings Bank
which operated 45 branches in East-Central Florida.
Harbor Community Bank is setting the standard for community banking by delivering
exceptional financial services with a personal approach to customer service from a team of
knowledgeable and trusted financial partners.
Harbor Community Bank is one of a handful of Florida Banks that earned a five star rating by
Bauer Financial.
Do I need to do anything about my Putnam State Bank account(s)?
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You do not need to do anything at this time. You can continue banking exactly as you did as a
Putnam State Bank customer. You can continue to access your money by writing checks, using
ATM and debit cards or online banking. Checks drawn on Putnam State Bank will continue to be
accepted. You should also continue to make your loan payments as usual.
Member FDIC
How will this affect my Putnam State Bank account(s) and the way I do my banking?
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This transaction will not affect your accounts(s) or the way you conduct your banking business.
Being a part of Harbor Community Bank means you can expect to have a high level of
convenience and customer service unmatched in the market place. Over time we will
communicate any specific information regarding any changes or added features to your accounts.
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If anything does require immediate attention or if anything does change, you will be notified at
least 30 days in advance and we will be happy to walk you through any changes that may occur.
Will my checking/savings/CD Account(s) account number change?
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All account numbers will remain the same at this time. We will communicate with you in
advance with specific information about any changes or added features to your accounts.
What about my direct deposits/Social Security?
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Your current arrangement for direct deposit, including Social Security checks will continue as
normal without interruption.
Is my money safe?
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Yes! Your deposits with Harbor Community Bank are safe, sound, and readily accessible. All
deposit accounts, which include checking, savings, money market, CDs and Retirement accounts,
have been transferred to Harbor Community Bank, regardless of the amount.
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All deposits are still FDIC insured up to the legal limit. The current FDIC insurance covers
interest bearing deposits up to $250,000. This is in addition to and separate from the $250,000
coverage available under the FDIC’s general deposit insurance rules.
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Please visit www.fdic.gov for additional information regarding FDIC insurance.
Do I need to come into a branch to do anything special?
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No branch visit is required as your deposits were automatically transferred to Harbor Community
Bank.
Will there be changes to my CD or IRA?
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We are in the process of evaluating the rates on our interest bearing deposit accounts. If your
certificate of deposit rates are affected by a rate change as of June 15, 2012 you will receive a
“Notice of Rate Changes to Interest Bearing Deposits” in the mail advising you of any
changes. Please read the document carefully.
Interest rates and annual percentage yields on checking, savings and money market accounts are
subject to change at any time.
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You can withdraw some or all of your funds from your deposit accounts without penalty until you
enter a new agreement with Harbor Community Bank, provided you are not using your deposits
to secure a loan.
Member FDIC
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If you currently receive interest payments, those payments will continue without interruption.
What about my online banking access? Can I continue to pay bills online?
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Yes. Please continue to access your online banking and bill paying service through
www.putnamstatebank.com. As our banking systems merge, we will provide assistance and
advance notice of any changes to access to your accounts online.
What if I make my deposit through Remote Deposit Capture? Can I continue to use my scanner?
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Yes, please continue to use your scanner as you normally would. Your deposits will be accepted
and processed as they normally would. We will communicate with you well in advance with
specific information about any changes to Remote Deposit Capture services.
A merchant will not honor my check. What can I do?
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You can provide a copy of this document or our “Depositor Letter” since both documents state all
deposits have been transferred to Harbor Community Bank, and it is business as usual. Questions
from interested parties may call the FDIC at 800-640-2631.
Who will send my 1098 and/or 1099 information after the end of the year?
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Harbor Community Bank will be responsible for mailing your 1099 and/or 1098 tax information.
What will happen to the checks which have not cleared my account?
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Checks drawn on Putnam State Bank that did not clear before June 15, 2012 will be honored up
to your available balance.
Can I cash my interest check or cashier’s check?
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Yes, interest checks and cashier’s checks will continue to clear.
Will I incur an early withdrawal penalty if I close my CD before maturity?
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No. You may withdraw funds from any transferred account without an early withdrawal penalty
until you enter into a new deposit agreement with Harbor Community Bank, provided it is not
used as collateral on a loan. Entering into a new deposit agreement can be done by opening a
new CD with Harbor Community Bank, or making a deposit to, or a withdrawal from, your
account.
Will there be changes related to my safe deposit box?
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No. It is business as usual. No action is required as a result of this transaction. You may go to
your branch and access your safe deposit box during normal business hours or make an
appointment by calling your branch location.
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Your fees will remain the same.
Will my products remain the same?
Member FDIC
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Your current products and services will remain the same for the time being. As we integrate our
systems and review the accounts at both banks, some changes may occur in your accounts. You
will be notified at least 30 days in advance of any changes and we will be happy to walk you
through any changes that may occur.
Are there any changes to fees or charges due to this transaction?
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Not at this time. We will notify you in the event there are changes to fees.
What about my loans?
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All loans have been purchased by Harbor Community Bank and will continue to be serviced as
they have been in the past. Your interest, payment amount and due date have not changed. You
will continue to make payments as you have in the past. If your payment is deducted from a
deposit account, like a checking account, it will continue to be deducted as it has in the past. If
you make your payments in person or via mail, please make your checks payable to Harbor
Community Bank and send your payments to the same address you have always used.
Will my automatic transfer still occur on its assigned date?
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Yes. You should experience no disruption in this service. We encourage you to check your bank
account the day after your scheduled draft to verify the transaction. If the transaction did not
occur, please notify us and we will research your account.
Will construction draws continue? Will my project be completed?
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Each loan is being reviewed independently and will be determined on a case-by case basis.
Please direct your questions to your loan officer.
Will you continue to pay my escrows?
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All services previously performed related to your loan will continue. Should you receive
notification that any portion of your taxes or insurance were not paid, please notify us
immediately.
How and where do I make my payments?
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You should continue to make your payments as agreed. Please make checks payable to Harbor
Community Bank and utilize the same payment address information.
Will the hours remain the same?
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At this time our hours of operation will remain the same. We will notify you in advance with any
changes in hours.
What if I already have other deposit accounts with Harbor Community Bank? How will that affect
my FDIC insurance coverage?
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The accounts transferred to Harbor Community Bank will be separately insured for at least six
months after the transition. This grace period gives you the opportunity to restructure the
accounts, if necessary. If you are a deposit customer you will receive additional information
about insurance on your deposit accounts via U.S. Mail within 7 days of the transaction.
Member FDIC
Please read the letter and enclosed documents carefully and contact us with additional questions,
or go to the FDIC website: www.fdic.gov.
What if I have additional questions?
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If you have more questions about your account(s) or about this transition, simply call your local
branch. A bank representative will be there to answer your questions, or you can call us at your
local branch or the main branch at 386-328-5600.
Can I close my account?
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While you have the option to close your account, rest assured that Harbor Community Bank
wants your business and we’re willing to work hard to earn it. We have a history of outstanding
customer service and superior financial performance. Your money is safe here.
Member FDIC