No disruptions expected for Downey Savings and PFF Bank customers

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People who bank at Downey Savings & Loan or PFF Bank & Trust should have normal access to their funds over the weekend, even though the two troubled banking institutions were shut down late Friday by federal regulators.

The Federal Deposit Insurance Corp. said the 213 branches of the two organizations would reopen as branches of Minneapolis-based U.S. Bank under their normal business hours, including those with Saturday hours. Depositors automatically will become depositors of U.S. Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain insurance coverage.

Customers of both banks should continue to use their existing branches until U.S. Bank can fully integrate the deposit records of the organizations, regulators said. Over the weekend, depositors can access their money by writing checks or using ATM or debit cards.

Customers who have questions can call the FDIC toll free. Customers of Downey Savings should call (800) 930-5169, and for PFF Bank, (800) 930-6827. The numbers will be operational Friday until 9 p.m., Saturday from 8 a.m. to 6 p.m. and Sunday noon to 6 p.m. Pacific Standard Time, and thereafter from 8 a.m. to 8 p.m. Pacific time. Interested parties also can visit the FDIC’s website. For Downey Savings, they can click here and for PFF Bank here.

-- Julie Makinen