[¶11,210] In the Matter of The Bank of Edwards, Edwards, Miss., Docket No. FDIC-95-68q (8-16-95)
Bank agrees to termination of depository insurance.ORDER
In the Matter of
THE BANK OF EDWARDS
(Insured State Nonmember Bank)
ORDER OF APPROVAL
OF TERMINATION OF
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 Merchants Bank, Vicksburg, Mississippi ("Merchants"), has provided to the FDIC, on April 17, 1995, satisfactory evidence that it has assumed the liabilities for deposits of The Bank of Edwards, Edwards, Mississippi ("Edwards"), as of March 31, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Edwards as an insured State nonmember bank be, and hereby is terminated as of April 17, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Merchants from Edwards shall terminate at the expiration of September 30, 1995, or in the case of any time deposit, the earliest maturity date after September 30, 1995, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
IT IS FURTHER ORDERED, that, if it has not already done so, Merchants shall give notice of such assumption, in a manner acceptable to the Regional Director of the FDIC's Memphis Regional Office, to each of the depositors of Edwards within thirty days after receipt of this ORDER.
Dated at Washington, D.C., this 16th day of August, 1995.
Pursuant to delegated authority.