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FDIC Enforcement Decisions and Orders

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{{7-31-95 p.C-1181}}
   [10,276] In the Matter of Resources Industrial Bank, Denver, Colorado, Docket No. FDIC-91-184q (7-16-91).

   FDIC terminates separate insurance of bank whose liabilities for deposits have been assumed by another bank.

In the Matter of

RESOURCES INDUSTRIAL BANK
DENVER, COLORADO
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE

   Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12 U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that Resources Industrial Bank, Denver, Colorado ("Insured Institution"), has provided to the FDIC on June 14, 1991, satisfactory evidence that its liabilities for deposits have been assumed by First Community Industrial Bank of Littleton, Littleton, Colorado, on May 7, 1991, and that First Community Industrial Bank of Littleton has notified the Insured Institution's depositors of its assumption of their deposits, hereby issues the following ORDER:

ORDER
   IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured State nonmember bank be, and hereby is, terminated at the expiration of July 15, 1991.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by First Community Industrial Bank of Littleton from the Insured Institution shall terminate at the expiration of November 7, 1991, or in the case of any time deposit, the earliest maturity date after November 7, 1991, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 16th day of July, 1991.

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