SOURCE: First California Bank

First California Bank

September 16, 2011 17:28 ET

First California Notifies Clients of Durkee & Associates of Actions to Resolve Account Status

WESTLAKE VILLAGE, CA--(Marketwire - Sep 16, 2011) - First California Bank today announced that it is notifying clients of Durkee & Associates of actions to take in order to resolve the status of accounts that were controlled by Durkee & Associates.

First California said it conducted an initial investigation into the Durkee accounts and found that it appeared Durkee had comingled funds belonging to a number of different campaigns and organizations and made transfers between the accounts on which Durkee had signing authority. The Bank concluded a high likelihood existed that the balance credited to any given account did not accurately represent the funds, if any, actually belonging to the campaign or organization named on the account.

Accordingly, the Bank, upon the advice of counsel, determined that it would file an interpleader action in Los Angeles Superior Court with respect to all, or least the vast majority, of the Durkee controlled accounts. The Bank will remit the account balances to the appropriate court, which will then be in a position to determine the specific amounts that are owed to each of the campaigns, candidates, and organizations that had utilized the services of Durkee.

Individuals affected in this matter may email inquiries to DurkeeInfo@fcbank.com, or call First California Bank's Client Services Group at 1-800-856-7905.

Contact Information

  • For further Information:

    At the Company:
    Client Services Group
    1-800-856-7905

    Address:
    P.O. Box 5112
    Westlake Village, CA 91359-5112