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FDIC Enforcement Decisions and Orders
Status of bank as insured savings association terminated.
In the Matter of
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 Marathon National Bank of New York, New York City, New York ("Bank"), has provided to the FDIC on June 30, 2005, satisfactory evidence that it has assumed the liabilities for deposits of Ocwen Federal Bank FSB, Fort Lee, New Jersey ("Ocwen Bank"), as of June 30, 2005, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that Marathon Bank has notified Ocwen Bank's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of the Ocwen Bank as an insured savings association be, and hereby is, terminated as of June 30, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Marathon Bank from Ocwen Bank shall terminate at the expiration of December 30, 2005, or, in the case of any time deposit, the earliest maturity date after December 30, 2005, 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 15th day of July, 2005.
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