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


{{8-31-00 p.C-4956}}

   [11,723] In the Matter of The Bank of Hollywood, Los Angeles, California, Docket No. 00-027q (6-29-00)

   Status of bank as insured state nonmember bank terminated.

In the Matter of
THE BANK OF HOLLYWOOD
LOS ANGELES, CALIFORNIA
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE

FDIC-00-027q

   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 People's Bank of California, Los Angeles, California ("People's Bank"), has provided to the FDIC on March 29, 2000, satisfactory evidence that it has assumed the deposit liabilities of The Bank of Hollywood, Los Angeles, California, as of January 31, 2000, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that People's Bank has notified The Bank of Hollywood's depositors of its assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of The Bank of Hollywood as an insured state nonmember bank be, and hereby is, terminated as of March 29, 2000.

   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by People's Bank from The Bank of Hollywood shall terminate at the expiration of July 31, 2000, or, in the case of any time deposit, the earliest maturity date after July 31, 2000, 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 29th day of June, 2000.

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

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