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FDIC ACTS ON CHANGE IN CONTROL NOTICE FILED BY CITIGROUP

FOR IMMEDIATE RELEASE
PR-83-2000 (11-30-2000)
Media Contact:
Phil Battey (202) 898-6993

The Federal Deposit Insurance Corporation today announced that it would not disapprove acquisitions of two banks, Hurley State Bank, Hurley, South Dakota; and Associates Capital Bank, Inc., Salt Lake City, Utah; by Citigroup, Inc., New York, New York. The acquisitions may proceed immediately. Citigroup notified the FDIC of the proposed acquisitions on September 18, 2000. The FDIC reviewed the notices as required under the Change in Bank Control Act. The letter notifying Citigroup of the FDIC's decision is attached.

Attachment: Letter

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,101 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.

FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov, and may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Washington, DC 20434, telephone 800-276-6003 or (703) 562-2200, or e-mail publicinfo@fdic.gov.

Last Updated 11/30/2000 communications@fdic.gov