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FDIC Enforcement Decisions and Orders

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{{12-31-92 p.TA-4}}
   [9011] Docket No. FDIC-91-109a(9-30-92)

In the Matter of

INVESTORS BANK & TRUST
COMPANY
GRETNA,LOUISIANA
(Insured State Nonmember Bank)
ORDER MODIFYING
ORDER TERMINATING FEDERAL
DEPOSIT INSURANCE

   On September 15, 1992, the Board of Directors ("Board") of the Federal Deposit Insurance Corporation ("FDIC") adopted a Decision and an Order Terminating Federal Deposit Insurance ("Decision and Order") of Investors Bank & Trust Company, Gretna, Louisiana ("Insured Institution"). The Decision and Order provided that the insured status of the Insured Institution would be terminated effective sixty days from the date of the Order, which would have been November 16, 1992, and that, within thirty days from the date of the Order, which would have been October 15, 1992, the Insured Institution must give notice of the termination to its depositors and also publish such notice. The Decision and order reserved to the Board jurisdiction "with full power and authority to amend, modify, alter, or rescind" the Order.
   The Memphis Regional Office of the {{2-28-93 p.TA-5}}FDIC's Division of Supervision has requested that the Decision and Order be modified to extend the effective date and all other deadlines therein established for an additional thirty day period, thereby extending the effective date of termination of insured status to December 14, 1992, and the notification and publication deadlines to November 16, 1992, to facilitate the orderly resolution of the Insured Institution. Based upon the information provided, the Board has determined that, under the circumstances presented, the provision of the requested additional time would be in the best interest of the Bank Insurance Fund. Therefore, the Board adopts this Order Modifying Order Terminating Federal Deposit Insurance ("Modification Order"). Accordingly,
   IT IS HEREBY ORDERED, that the Decision and Order shall be, and hereby is, modified as follows: 1) wherever the words "sixty days" now appear, the words "ninety days" are inserted in their place; and 2) wherever the words "thirty days" now appear, the words, "sixty days" are inserted in their place.
   The Board hereby finds that publication of the Decision and Order and this Modification Order would seriously threaten the safety or soundness of the Insured Institution. Accordingly, pursuant to 12 U.S.C. § 1818(u),
   IT IS FURTHER ORDERED, that publication of the Decision and Order and this Modification Order shall be delayed until the effective date of the Decision and Order, as modified.
   By direction of the Board of Directors.
   Dated at Washington, D.C., this 30th day of September, 1992.

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