A FAQ for customers of Suburban Federal of Crofton, seized this evening by the Feds, can be read here.

Some highlights:

-- Your transferred deposits will be separately insured from any accounts you may already have at Bank of Essex for six months after the failure of Suburban Federal Savings Bank. Checks that were drawn on Suburban Federal Savings Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account. You may speak to an FDIC representative regarding deposit insurance by calling: 1-800-822-7182 or visit EDIE the FDIC's Electronic Deposit Insurance Estimator.

-- You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Bank of Essex as long as the deposits are not pledged as collateral for loans. You may view more information about Bank of Essex by visiting their web site.

-- All interest accrued through Friday, January 30, 2009, will be paid at your same rate. Bank of Essex will be reviewing rates and will provide further information soon. You will be notified of any changes.

-- Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank. If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.

-- If you had a loan with Suburban Federal Savings Bank, you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract because they are contractually agreed to in your promissory note with the failed institution. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan, you may call 1-800-822-7182.