[¶11,028] In the Matter of First Federal Savings Bank, San Antonio, Texas, Docket No. FDIC-94-102q (8-17-94).
Liability for bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
In the Matter of
FIRST FEDERAL SAVINGS BANK
SAN ANTONIO, TEXAS
(Insured Federal Savings Bank)
ORDER OF APPROVAL
OF TERMINATION OF
Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 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 Guaranty Federal Bank, F.S.B., Dallas, Texas
("Guaranty"), has provided to the FDIC on June 28, 1994, satisfactory evidence that it has assumed the liabilities for deposits of First Federal Savings Bank, San Antonio, Texas ("First Federal"), as of June 17, 1994, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Guaranty has notified First Federal's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of First Federal as an insured Federal savings bank be, and hereby is, terminated as of June 28, 1994.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Guaranty from First Federal shall terminate at the expiration of December 17, 1994, or, in the case of any time deposit, the earliest maturity date after December 17, 1994, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 17th day of August, 1994.
Pursuant to delegated authority.