The First City Bank of Florida on Perry Avenue in Fort Walton Beach has been shut down by the Florida Office of Financial Regulation. The bank, which had served Okaloosa County for almost 75 years, was shut down with no advance notice and the Federal Deposit Insurance Corporation has been named by the state as receiver. The bank is now United Fidelity Bank, which is affiliated with United Airlines. An FDIC notification taped to the glass door said the bank had been operating with financial difficulties since 2009 and had experienced long standing capital and asset quality issues. First City Bank was founded in 1948.