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   [10,731A] In the Matter of Riverbend Bank, National Association, Fort Worth, Texas, Docket No. 93-45kk (3-2-93).

   FDIC issues order denying request for exemption from liability.

   [.1] Exemption from Liability—Request Denied

In the Matter of
RIVERBEND BANK, NATIONAL ASSOCIATION
FORT WORTH, TEXAS
(Insured Depository Institution)
related to
AMERICAN BANK OF HALTOM CITY
HALTOM CITY, TEXAS
(Commonly Controlled Insured Depository Institution)
ORDER DENYING REQUEST FOR EXEMPTION FROM LIABILITY

FDIC-93-45kk

   WHEREAS, Ameritex Bancshares Corporation, Fort Worth, Texas ("Ameritex"), is a bank holding company whose subsidiary banks included American Bank of Haltom City, Fort Worth, Texas ("Haltom"), Riverbend Bank, National Association, Fort Worth, Texas ("Riverbend"), and American Bank of Commerce, Grapevine, Texas ("Grapevine"); and

   WHEREAS, on or about February 5, 1993, the Banking Commissioner for the State of Texas deemed Haltom to be insolvent and appointed the Federal Deposit Insurance Corporation ("FDIC") as receiver of Haltom, and thereafter Haltom was closed; and

   WHEREAS, Bonnet Resources, Inc. ("Bonnet"), the FDIC's collection agent for a loan collateralized by the stock of Riverbend, has been attempting to market Riverbend; and

   WHEREAS, in order to facilitate the marketing of Riverbend, Ameritex has requested that the FDIC grant to Riverbend an appropriate exemption, pursuant to section 5(e)(5)(A) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1815(e)(5)(A), with respect to losses incurred or reasonably anticipated to be incurred by the FDIC from the default of or FDIC assistance to Haltom; and

   WHEREAS, the Board of Directors ("Board") of the FDIC, having fully considered the facts and information relating to the foregoing request for exemption from losses, and having considered the recommendation of the Division of Supervision of the FDIC, has concluded, in its discretion, that an exemption is not in the best interest of the Bank Insurance Fund, and that the request for exemption should be denied.

   IT IS THEREFORE ORDERED, that the request to exempt Riverbend from losses incurred or reasonably anticipated to be incurred by the FDIC from the default of or FDIC assistance to Haltom be, and hereby is, denied.

   By direction of the Board of Directors.

   Dated at Washington, D.C., this 2nd day of March,1993.

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Last Updated 6/6/2003 legal@fdic.gov