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   [11,878] In the Matter of The First Bank of Mitchell, Mitchell, Indiana, Docket No. 01-168q (12-20-01).

   Status of bank as insured federal savings association terminated.

In the Matter of
THE FIRST BANK OF MITCHELL
MITCHELL, INDIANA
(Insured Federal Savings Association)
ORDER OF
APPROVAL OF
TERMINATION OF
INSURANCE

FDIC-01-168q

   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 Union Federal Bank of Indianapolis, Indianapolis, Indiana ("Union"), has provided to the FDIC on October 9, 2001, satisfactory evidence that it has assumed a portion of the liabilities for deposits of The First Bank of Mitchell, Mitchell, Indiana ("Mitchell"), as of September 28, 2001, and that Bloomfield State Bank, Bloomfield, Indiana ("Bloomfield"), has provided to the FDIC on October 22, 2001, satisfactory evidence that it has assumed the remaining deposits of Mitchell, also as of September 28, 2001, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that Union and Bloomfield have notified Mitchell's respective depositors of the assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Mitchell as an insured federal savings association be, and hereby is terminated as of October 22, 2001.

   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Union and Bloomfield from Mitchell shall terminate at the expiration of March 28, 2002, or, in the case of any time deposit, the earliest maturity date after March 28, 2002, 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 20th day of December, 2001.

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