[¶11,230] In the Matter of Farmers State Bank of Worden, Worden, Mont., Docket No. FDIC-95-106q (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
FARMERS STATE BANK OF
(Insured State Member 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 Stockman Bank of Montana, Billings, Montana ("Stockman Bank"), has provided to the FDIC on July 24, 1995, satisfactory evidence that it has assumed the liabilities for deposits of Farmers State Bank of Worden, Worden, Montana ("Farmers State Bank"), as of July 14, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Stockman Bank has notified depositors of Farmers State Bank of the assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Farmers State Bank as an insured state member bank, hereby, is terminated as of July 14, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Stockman Bank from Farmers State Bank shall terminate at the expiration of January 14, 1996, or in the case of any time deposit, the earliest maturity date after January 14, 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.