Salt Lake City, UT / March 5, 2010 / --  Barnes Banking Company Headquartered in Kaysville Utah has closed and been taken into receivership by the Federal Deposit Insurance Corporation (FDIC).  To protect depositors the FDIC created the Deposit Insurance National Bank of Kaysville (DINB) which will remain open until February 12, 2010 to allow depositors access to their insured deposits. 

As of September 30, 2009, Barnes Banking Company had $827.8 million in total assets and $786.5 million in total deposits according to the FDIC.  At the time of closing, the amount of deposits exceeding the insurance limits were undetermined. 

The cost to the FDIC's Deposit Insurance Fund is estimated to be $271.3 million.  

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