[¶11,366] In the Matter of Primerit Bank, Las Vegas, Nev., Docket No. FDIC-96-107q (12-9-96)
Liability for all of bank's deposits having been assumed by another institution FDIC terminates bank's insured status.
In the Matter of
FEDERAL SAVINGS BANK,
LAS VEGAS, NEVADA
(Insured Federal Savings Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
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 Norwest Bank Nevada, F.S.B., Las Vegas, Nevada ("Norwest"), has provided to the FDIC on July 22, 1996, satisfactory evidence that it has assumed the liabilities for deposits of Primerit Bank, Federal Savings Bank, Las Vegas, Nevada ("Primerit"), as of July 19, 1996, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Norwest has notified Primerit's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Primerit as an insured federal savings bank, hereby, is terminated on July 22, 1996.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Norwest from Primerit shall terminate at the expiration of January 21, 1997, or in the case of any time deposit, the earliest maturity date after January 21, 1997, as provided in section 8(q) of the Act, 12 U.S.C. § 1818 (q). Pursuant to delegated authority.
Dated at Washington, D.C., this 9th day of December, 1996.