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FDIC Enforcement Decisions and Orders

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   [12,005] In the Matter of G & L Bank, Pensacola, Florida, Docket No. 02-084p (12-20-02).

   FDIC terminates insured status of bank that no longer receives deposits.

In the Matter of
G & L BANK
PENSACOLA, FLORIDA
(Insured Federal Savings Bank)
ORDER OF TERMINATION OF INSURANCE

FDIC-02-084p

   Pursuant to section 8(p) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(p), the Federal Deposit Insurance Corporation ("FDIC"), hereby finds that G & L Bank, Pensacola, Florida ("Insured Institution"), is not engaged in the business of receiving deposits, and issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured federal savings bank be, and hereby is, terminated at the expiration of June 30, 2003, which is the last day of the first full semiannual assessment period following the date of issuance of this ORDER.

   IT IS FURTHER ORDERED, that the Insured Institution notify its depositors, if any, of the termination of its insured status no later than May 30, 2003, in the manner required by section 308.124(c) of the FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.124(c).

   Pursuant to delegated authority.

   Dated at Washington, D.C., this 20th day of December, 2002.

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