[¶10,636] In the Matter of The Park City National Bank of Kansas City, Kansas City, Missouri, Docket No. FDIC-92-272q (9-1-92).
FDIC terminates insurance because liability for bank's deposits has been assumed by another institution.
In the Matter of
THE PARK NATIONAL BANK OF
KANSAS CITY, MISSOURI
(Insured National Bank)
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 Country Club Bank, Kansas City, Missouri ("Country Club"), has provided to the FDIC on March 2, 1992, satisfactory evidence that it has assumed the liabilities for deposits of The Park National Bank of Kansas City, Kansas City, Missouri ("Park National"), as of March 1, 1992, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Country Club has notified Park National's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Park National as an insured national bank hereby is terminated at the expiration of March 1, 1992.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Country Club from Park National shall terminate at the expiration of September 1, 1992, or in the case of any time deposit, the earliest maturity date after September 1, 1992, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 1st day of September, 1992.
Pursuant to delegated authority.