The Federal Deposit Insurance Corporation assumed all deposits of Jacksonville's oldest continuously operating bank on Friday and First Guaranty Bank and Trust Company of Jacksonville will reopen Monday under new ownership.

The eight branches of the First Guaranty Bank and Trust will become CenterState Bank of Florida branches.

CenterState and the FDIC agreed to share losses on $292.9 million of First Guaranty Bank and Trust’s assets.

Deposits will continue to be insured by the FDIC.

Florida is among the states with the highest number of bank failures. Regulators closed 13 banks in Florida last year and 29 in 2010. First Guaranty was the second Florida lender to fail this year. Last week, CenterState Bank agreed to acquire the assets and deposits of the failed Central Florida State Bank of Belleview.

On Saturday, customers went to the bank some had used for decades not knowing what to expect.

"I have been dealing with this bank since the 60's," said Lugenia Saulsby. "Really, when I went in, the lady met me at the door and she said, 'Come on, let me explain it to you,' and she set my mind at ease right then."

For most customers, very little has changed besides the name.

"Their money is safe, and that it's business as usual and that the people they've been dealing with on a daily basis are still gonna be there tomorrow morning," said Gil Pomar with CenterState Bank.

Pomar said First Guaranty's downfall can be partially blamed on the housing market.

"They're like a lot of banks. The last four or five years have been tough with property values going down," he said.

The FDIC said ATM cards and checks will continue to work and bank hours will remain the same. Some interest rates are under review, and the bank will notify all customers if there are any changes to their accounts.

Customers with questions about the First Guarantee/CenterBank transaction can call the FDIC at  800-508-8289 or visit Firstguarantybank.com.

The hours for the toll free number are:

• Friday until 9 p.m.
• Saturday 9 a.m. - 6 p.m.
• Sunday 12 p.m. - 6 p.m.
• Monday 8 a.m. - 8 p.m.