Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{10-31-00 p.C-3762.1}}
   [11,039] In the Matter of Med Center Bank, Houston, Texas, Docket No. FDIC-94-116q (9-21-94).

   Another institution having assumed liability for bank's deposits, FDIC approves termination of bank's insurance.
In the Matter of

MED CENTER BANK
HOUSTON, TEXAS
(Insured State Nonmember Bank)
ORDER OF APPROVAL
OF TERMINATION OF
INSURANCE

FDIC-94-116q

   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 First Interstate Bank of Texas, National Association, Houston, Texas ("FIB"), has provided to the FDIC on August 5, 1994, satisfactory evidence that it has assumed the liabilities for deposits of
{{10-31-00 p.C-3762.2}}Med Center Bank, Houston, Texas ("Med Center"), as of July 31, 1994, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that FIB has notified the depositors of Med Center of its assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Med Center as an insured State nonmember bank has been, and hereby is, terminated as of August 5, 1994.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by FIB from Med Center shall terminate at the expiration of February 5, 1995, or in the case of any time deposit, the earliest maturity date after February 5, 1995, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
   Dated at Washington, D.C., this 21st day of September, 1994.

   Pursuant to delegated authority.

ED&O Home | Search Form | Text Search | ED&O Help

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