In a merger, the surviving institution is responsible for the final invoice of the outgoing institution. The final invoice is payment for the quarter prior to the merger transaction. For example, if a merger occurs on April 15, the final invoice of the outgoing institution is the invoice payable on June 30, based on March 31 Call Report data, and is payment for the first quarter of the year.
The final invoice of the outgoing institution will be available to the surviving institution on FDICconnect. The surviving institution’s authorized FDICconnect Coordinator(s) and/or User(s) will be able to download the invoice of an outgoing institution by following the instructions in the FDICconnect section of this webpage. If an outgoing institution does not appear on the surviving institution’s list of acquired institutions on FDICconnect, the surviving institution should contact the Assessments
Section. Please have the details of your merger available – institution
names, FDIC certificate numbers, and transaction date.
The survivor’s
RTN and ACH account will be used to satisfy the payment for the
survivor and any acquired institutions as listed on FDICconnect. The
survivor
is responsible for ensuring the accuracy of the ACH information
on each invoice and ensuring that its authorized account is funded
for
the combined total of all invoices.
For Mergers on or after April 1, 2011
The Call Report filed by the surviving institution for the quarter in which the merger occurred should average the assets of both institutions for every day in that quarter. By doing this, all the assets will be included in the assessable base on the survivor’s quarterly invoice that bills for the quarter in which the merger occurred. Please see the Call Report instructions for Schedule RC-O beginning with the June 30, 2011, Call Report.
