[¶11,228] In the Matter of West Coast Mutual Savings Bank, Centralia, Wash., Docket No. FDIC-95-6q (9-25-95).
Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.ORDER
In the Matter of
WEST COAST MUTUAL SAVINGS
(Insured State Chartered Savings Bank)
ORDER OF APPROVAL
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 Washington Federal Savings and Loan Association, Seattle, Washington ("Washington") has provided to the FDIC on July 24, 1995, satisfactory evidence that it has assumed the liabilities for deposits of West Coast Mutual Savings Bank, Centralia, Washington ("West Coast") as of July 1, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Washington has notified the depositors of West Coast of the assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of West Coast as an insured state chartered savings bank, hereby is terminated as of July 1, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Washington from West Coast shall terminate at the expiration of January 1, 1996, or in the case of any time deposit, the earliest maturity date after January 1, 1996, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 25th day of September, 1995.
Pursuant to delegated authority.