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FDIC Enforcement Decisions and Orders
Status of bank as insured national bank terminated.
In the Matter of
Pursuant to section 8(q) of the Federal Deposit
Insurance Act ("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 FDS Bank, Mason,
Ohio ("FDS Bank"), has provided to the FDIC on November 10, 2005,
satisfactory evidence that it has assumed the liabilities for deposits
of May National Bank of Ohio, Lorain, Ohio ("May National Bank"),
as of November 10, 2005, as required by section
307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of May National Bank as an insured national bank, is terminated as of November 10, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by the FDS Bank from May National Bank shall terminate at the expiration of May 10, 2006, or in the case of any time deposit, the earliest maturity date after May 10, 2006, as provided in section 8(q) of the Act, 12 U.S.C. §1818(q).
IT IS FURTHER ORDERED, that FDS Bank shall give notice of such assumption to each of the depositors of May National Bank within thirty days after such assumption has taken effect, if it has not already done so, in a manner acceptable to the Regional Director of the FDIC's Chicago Regional Office.
Pursuant to delegated authority.
Dated at Washington, D.C., this 10th day of November, 2005.
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