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FDIC Enforcement Decisions and Orders

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   [12,008] In the Matter of LBS Bank-New York, New York City, New York, Docket No. 02-205p (12-26-02).

   Status of bank as an insured state nonmember bank terminated.

In the Matter of
LBS BANK-NEW YORK
NEW YORK CITY, NEW YORK
(Insured State Nonmember Bank)
ORDER OF TERMINATION OF INSURANCE

FDIC-02-205p

   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 LBS Bank-New York, New York City, New York ("LBS"), is not engaged in the business of
{{3-31-03 p.C-5673}}

   receiving deposits, other than trust funds, and issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of LBS as an insured state nonmember 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 LBS 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 26th day of December, 2002.

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