[11,434] In the Matter of First Home Savings Bank, FSB, Pittsburgh, Pennsylvania, FDIC Docket No. 97-39q (8-8-97)
FDIC terminates insured status of bank as an insured federal savings bank, where several institutions have assumed the liabilities for the bank's deposits
In the Matter of
FIRST HOME SAVINGS BANK, FSB
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
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 the following institutions (each an "Assuming Institution," and collectively the "Assuming Institutions") have provided to the FDIC on May 23, 1997, satisfactory evidence that each has respectively assumed the liabilities for deposits of the following branches of First Home Savings Bank, FSB, Pittsburgh, Pennsylvania ("First Home"), as of December 6, 1996:
Parkvale Savings Bank, Monroeville, Pennsylvania, with respect to the Crafton branch;
NorthSide Bank, Pittsburgh, Pennsylvania, with respect to the Cranberry Township and Downtown Pittsburgh branches;
Southwest National Bank of Pennsylvania, Greensburg, Pennsylvania, with respect to the Natrona Heights Office branch;
Great American Federal Savings and Loan Association, Pittsburgh, Pennsylvania, with respect to the Munhall, McKeesport, and White Oak branches; and
Pittsburgh Home Savings Bank, Pittsburgh, Pennsylvania, with respect to the Dormont branch, 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 First Home as an insured Federal savings bank, be and hereby is, terminated as of May 23, 1997.
IT IS FURTHER ORDERED, that the seperate insurance of all deposits assumed by the Assuming Institutions from First Home be terminated at the expiration of June 6, 1997, or in the case of any time deposit, the earliest maturity date after June 6, 1997, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
IT IS FURTHER ORDERED, that each Assuming Institution shall give notice of such assumption to each of the depositors of the respective branches of First Home within thirty days after such assumption takes effect, if it has not already done so, in a manner acceptable to the Regional Director of the FDIC's New York Regional Office.
Pursuant to delegated authority.
Dated at Washington, D.C., this 8th day of August, 1997.