First Fidelity Bank Ceases Deposit Services

First Fidelity Bank voluntarily transitioned from being a bank, as defined in the amended Financial Institutions Act, to being a finance company effective November 23, 2011. This means that the bank has closed all accounts with deposit customers and will no longer be a deposit-taking institution. This was the only 100% wholly Palauan owned financial institution on island. Formerly Palau Central Bank, the bank was re-issued a license operating as First Fidelity Bank in June 2006.