Each depositor insured to at least $250,000 per insured bank


Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders





FDIC Enforcement Decisions and Orders



ED&O Home | Search Form | Text Search | ED&O Help


{{01-31-06 p.12501.1}

[12,501] In the Matter of First Consumers National Bank, Lake Oswego, Oregon, Docket No. 05-181q (11-28-05).

Status of bank as insured national bank terminated.

In the Matter of
FIRST CONSUMERS NATIONAL BANK
LAKE OSWEGO, OREGON
(Insured National Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE

FDIC-05-181q

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 The Commerce Bank of Oregon, Portland, Oregon ("The Commerce Bank"), has provided to the FDIC on October 31, 2005, satisfactory evidence that it has assumed the liabilities for deposits of First Consumers National Bank, Lake Oswego, Oregon ("Insured Institution"), as of October 26, 2005, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that The Commerce Bank has notified the Insured Institution's depositors of its assumption of their deposits, hereby issues the following ORDER:
{{01-31-06 p.12502.1}

ORDER

IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured national bank be, and hereby is, terminated on October 31, 2005.

IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by The Commerce Bank from the Insured Institution shall terminate at the expiration of April 26, 2006, or in the case of any time deposit, the earliest maturity date after April 26, 2006, 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 28th day of November, 2005.



ED&O Home | Search Form | Text Search | ED&O Help






Last Updated 2/24/2006 legal@fdic.gov