Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{9-30-99 p.C-4404}}
   [11,438A] In the Matter of Green Mountain Bank, Rutland, Vermont, Docket No.FDIC-97-52q (9-19-97)

   Status of bank as insured state nonmember bank terminated.
In the Matter of

GREEN MOUNTAIN BANK
RUTLAND, VERMONT
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE

FDIC-97-52q

   Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. \s\t1818(q), and section 18(i)(3) of the Act, 12 U.S.C. \s\t1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that Vermont National Bank, Brattleboro, Vermont ("VNB"), provided to the FDIC on July 18, 1997, satisfactory evidence that it assumed the liabilities for deposits of Green Mountain Bank, Rutland, Vermont ("Green Mountain"), as of March 19, 1997, as required by section 307.1 of the FDIC\'s Rules and Regulations, 12 C.F.R. \s\t307.1, and that VNB notified Green Mountain\'s depositors of its assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Green Mountain as an insured state nonmember bank, be and hereby is, terminated as of July 18, 1997.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by VNB from Green Mountain be terminated at the expiration of September 19, 1997, or in the case of any time deposit, the earliest maturity date after September 19, 1997, as provided in section 8(q) of the Act, 12 U.S.C. \s\t1818(q).
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 19th day of September, 1997.

ED&O Home | Search Form | Text Search | ED&O Help

Last Updated 6/6/2003 legal@fdic.gov