{{4-30-95 p.C-2309}}
[¶10,541] In the Matter of Security State Bank, Soda Springs, Idaho, Docket No. FDIC-92-110q (5-21-92).
FDIC terminates insurance of institution whose liabilities for deposits have been assumed by another institution.
In the Matter of
SECURITY STATE BANK
SODA SPRINGS, IDAHO
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "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 Security State Bank, Soda Springs, Idaho, has provided to the FDIC on November 29, 1991, satisfactory evidence that its liabilities for deposits have been assumed by Ireland Bank, Malad City, Idaho, on November 8, 1991, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of Security State Bank, Soda Springs, Idaho, as an insured State nonmember bank, has been, and hereby is, terminated at the expiration of November 30, 1991.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Ireland Bank from Security State Bank shall terminate at the expiration of May 30, 1992, or in the case of any time deposit, the earliest maturity date after May 30, 1992, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
IT IS FURTHER ORDERED, that Ireland Bank shall give notice of such assumption to each of the depositors of Security State Bank within thirty (30) days after such assumption has taken effect, if it has not already done so, in a manner acceptable to the Regional Director (Supervision) of the FDIC's San Francisco Regional Office.
Dated at Washington, D.C., this 21st day of May, 1992.
Pursuant to delegated authority.
