Doral Bank taken over by Popular Community Bank?

Question

I have a CD in Doral Bank matured on May 2015, recently Doral Bank was taken over by Popular Community Bank forced by FDIC. Please advise whether I wait for the mature date or withdraw now, any penalty if I have early withdraw. Thank you.

Answer 1

Favorite Answer

Your account will be assumed by the new bank - the account terms remain unchanged. There's no reason to withdraw now.

Answer 2

the new one could take over the account but sometimes you are forced to withdraw the old bank to cash out talk to bank before they go out